Name and describe the uses of competency models.
What will be an ideal response?
Competency models are useful in several respects:
• They identify behaviors needed for effective job performance.
• They provide a tool for determining what skills are necessary to meet today's needs and the company's future skill needs.
• They help to determine what skills are needed at different career points.
• They provide a framework for ongoing coaching and feedback to develop employees for current and future roles.
• They create a "road map" for identifying and developing employees who may be candidates for managerial positions (succession planning).
• They provide a common set of criteria that are used for identifying appropriate training activities for employees as well as for evaluating and rewarding them. This helps integrate and align the company's HR systems and practices.
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Because the production division at Heavenly Gates Inc. is $10,000 below budget due to process improvements, this year 30 percent of the savings will be returned to the division to spend as desired, as a form of
A. pay for performance. B. pay for knowledge. C. gainsharing. D. profit sharing. E. stock options.
____ refers to the idea that morality varies from one culture to another and that business practices are therefore differentially defined as right or wrong by particular cultures.
A. The self-reference criterion B. Global ethics C. Economic relativism D. Cultural relativism E. Moral relativism
After Aida left TruTech to work for another firm, her former boss kept in touch with her. When a new management position opened up at TruTech, Aida's former boss convinced her to return to the firm. Aida would be considered a boomerang employee.
Answer the following statement true (T) or false (F)
Given the following information about a corporation's current year activities, compute the retained earnings for the current year. Retained earnings, January 1 $342,000Cash dividends$51,700Stock dividends$40,000Net income$141,000
What will be an ideal response?