When determining its hiring needs, a business must first consider its financial status and its __________needs.

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1. When determining its hiring needs, a business must first consider its financial status and its __________needs.

Accept change. Innovation is the process of creating new or more effective products, processes, services, technologies, or ideas. Creating something new requires change. When a business encourages its employees to learn about new processes, customer wants, market needs, and trends, innovation is more likely to occur. Exhibiting bias and suppressing ideas may have a negative effect on innovation. Following certain types of business procedures is important for creating a safe and fair work environment and does not necessarily affect innovative processes.
Productivity. Productivity is the amount of work that employees perform in a given period. Before a business decides to hire new employees, it must have the financial resources to pay the employee and it must have the need to increase its outputs. When a business expects higher sales, it needs to increase its outputs, and therefore, needs more inputs (e.g., personnel) to satisfy the higher product demand. When deciding to hire employees, a business does not first consider its secondary, uniform, or temporary needs.
Put the notice in writing. Putting the notice in writing provides documentation that the employee has been given notice if termination becomes necessary. The written notice serves as a warning and gives employees an opportunity to improve. Email notification would not provide a permanent written record and may violate confidentiality. Giving verbal notification only would not provide a record in case of termination. Posting the notice on the bulletin board would violate employee confidentiality.
Variable. Operating costs that fluctuate with changes in production are called variable expenses. When production goes up, variable expenses go up. When production goes down, variable expenses go down. Fixed expenses do not increase or decrease with changes in production. Capital expenses are one-time purchases a business makes, such as land or equipment. Total expenses are the sum of the operating and direct expenses it costs to make a product.

When determining its hiring needs, a business must first consider its financial status and its __________needs.

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When determining its hiring needs, a business must first consider its financial status and its __________needs.

❤ If you liked Fatskills, consider supporting us by checking out The Life Manuals You Never Got.

About | Explore | User Guide | Topics | Subjects | Doubt Solver | Career Aptitude Test | Answers | Free Tools | What Should We Know? Privacy | Terms |

Without work one finishes nothing. - Ralph Waldo Emerson© 2026 Fatskills.com

All trademarks, logos and brand names are the property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, trademarks and brands does not imply endorsement.

About | Explore | User Guide | Topics | Subjects | Doubt Solver | Career Aptitude Test | Answers | Free Tools | What Should We Know?
Privacy | Terms |

Without work one finishes nothing. - Ralph Waldo Emerson
© 2026 Fatskills.com