Exhibit 7.5: What Shapes External Competitiveness?
Exhibit 7.5: What Shapes External Competitiveness?
Exhibit 7.5: What Shapes External Competitiveness?
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Typical “Labor Market” Assumptions• Employers always seek to maximize profits• People are homogeneous and thereforeinterchangeable• Pay rates reflect all costs associated withemployment• Markets faced by employers are competitive(Milkovich, Newman, & Gerhart, 2011)
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