Differentiate between on-the-job and off-the-job training methods.
What will be an ideal response?
There are two broad types of training available to small businesses: on-the-job and off-the-job techniques.
On-the-job training is delivered to employees while they perform their regular jobs. In this way, they do not lose time while they are learning. After a plan is developed for what should be taught, employees should be informed of the details. On-the-job techniques include orientations, job instruction training, apprenticeships, internships and assistantships, job rotation, and coaching.
For on-the-job training in a small business, you need to stay abreast of all the jobs that need doing and define them so others can be trained in doing parts of the job. It is critical to design a job to make sure that nothing important is missed.
Along with on-the-job training techniques, off-the-job methods such as lectures, special study, videos, television conferences or discussions, case studies, role-playing, simulation, programmed instruction, and laboratory training are all possible. Most of these techniques can be used by small businesses, although some may be too costly. Other affordable and ongoing training methods can be less formal. In fact, training can be as simple as encouraging employees to meet regularly to discuss issues and share new ideas and perspectives. If your firm is large enough, you can also assign mentors to junior employees. Mentors give less experienced employees the opportunity to learn from seasoned veterans. Employees will be more comfortable in the face of new challenges if they know where to go for help. Mentors can inspire employees to strive for greater levels of success, help them channel their ambitions, and teach them new ways of handling ongoing problems more effectively.
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Vulcan, Inc., has 8.4 percent coupon bonds on the market that have 6 years left to maturity. The bonds make annual payments and have a par value of $1,000. If the YTM on these bonds is 10.4 percent, what is the current bond price?
Other things held constant, firms with more stable and predictable sales tend to use more debt than firms with less stable sales.
Answer the following statement true (T) or false (F)
Gesualdo, Inc., manufactures and sells two products: Product Z6 and Product F4. Data concerning the expected production of each product and the expected total direct labor-hours (DLHs) required to produce that output appear below: Expected ProductionDirect Labor-Hours Per UnitTotal Direct Labor-HoursProduct Z63008.02,400Product F460011.06,600Total direct labor-hours 9,000The direct labor rate is $24.70 per DLH. The direct materials cost per unit for each product is given below: Direct Materials Cost per UnitProduct Z6$101.00 Product F4$217.20 The company is considering adopting an activity-based costing system with the following activity cost pools, activity measures, and expected activity: EstimatedExpected ActivityActivity Cost PoolsActivity MeasuresOverhead CostProduct
Z6Product F4TotalLabor-relatedDLHs$98,6402,4006,6009,000Machine setupssetups 18,7115006001,100Order sizeMHs 388,3603,8003,5007,300 $505,711 The overhead applied to each unit of Product Z6 under activity-based costing is closest to: (Round your intermediate calculations to 2 decimal places.) A. $673.87 per unit B. $449.52 per unit C. $561.90 per unit D. $789.90 per unit
You have $5,000 invested in a bank that pays 3.8% annually. How long will it take for your funds to triple?
A. 23.99 B. 25.26 C. 26.58 D. 27.98 E. 29.46