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Explain Opportunity Cost?
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Opportunity Cost is the cost of an economic decision. The classic example is "guns or butter." What should a nation produce; butter, a need, or guns, a want? What is the cost of either decsion? If we choose the guns the cost is the butter. If we choose butter, the cost is the guns. nations bust always deal with the questions faced by opportunity cost. It is a matter of choices. Resources are limted thus we cannot meet every need or want.
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Selection Process

Selection is the process of choosing from a group of applicants those individuals best suited for a particular
position. Most managers recognize that employee selection is one of their most difficult, and most important,
business decisions. This process involves making a judgment -not about the applicant, but about the fit
between the applicant and the job by considering knowledge,skills and abilities and other characteristics required to perform the job Selection procedures are not carried out through standard pattern and steps in this. Process can vary from organization to organization some steps performed and considered important by one organization can be skipped by other organization.
Environmental Factors Affecting the Selection Process A permanent, standardized screening process could greatly simplify the selection process. However, development of such a process even if it were possible and desirable would not eliminate deviations to meet the unique needs of  particular situation.

Legal Considerations
Legislation, executive orders, and court decisions have a major impact on human resource management. It is important for hiring managers to see the relationship between useful and legally defensible selection tools.

Speed of Decision Making
The time available to make the selection decision can have a major effect on the selection process. Closely following selection policies and procedures can provide greater protection against legal problems; however, there are times when the pressure of business will dictate that exceptions be made.

Organizational Hierarchy
Different approaches to selection are generally taken for filling positions at different levels in the organization.

Applicant Pool
The number of applicants for a particular job can also affect the selection process. The process can be truly
selective only if there are several qualified applicants for a particular position. The number of people hired for a particular job compared to the individuals in the applicant pool is often expressed as a selection ratio.

Type of Organization
The sector of the economy in which individuals are to be employed private,  governmental, or not-forprofit can also affect the selection process.

Probationary Period
Many firms use a probationary period that permits evaluating an employee's ability based on performance. This may be either a substitute for certain phases of the selection process or a check on the validity of the process.

Selection Criteria
Mostly the selection of applicant depends upon the
following factors or criterions.
1. EDUCATION
2. COMPETENCIES
3. EXPERIENCE
4. SKILLS AND ABILITIES
5. PERSONAL CHARACTERISTICS

Applicant who is best fit should be hired instead of hiring a person with extra ordinary skills it means right person for right job should be hired person who is over or under qualified for the particular job will not be able to adjust in the organization.

STEPS IN THE SELECTION PROCESS
The selection process typically begins with the preliminary interview; next, candidates complete the application for employment. They progress through a series of selection tests, the employment interview, and reference and background checks. The successful applicant receives a company physical examination and is employed if the results are satisfactory. Several external and internal factors impact the selection process, and the manager must take them into account in making selection decisions. Typically selection process consists of the following steps but it is not necessary that all organization go through all these steps as per requirement of the organization some steps can be skipped while performing the selection process.
1. Initial Screening
2. Application Blank
3. Pre-employment Testing
. General Intelligence Tests
. Aptitude Tests
. Personality and Interest Tests
. Achievement Tests
. Honesty Tests
4. Interview
. Structured Interview
. Unstructured Interview
. Mixed Interview
5. Background Checks
6. Conditional job offer
7. Medical Exam/Drug Tests
8. Final Selection Decision
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when the costumer share a problem... then, unfortunately i made them smile and give the best advice to make them satisfied.




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Comments (3) :
1.
rg
Wednesday, January 21, 2009 2:02 AM
can you give me a best answer to this question,"How to deal with irrate customers?"
2.
rg
Wednesday, January 21, 2009 1:59 AM
can you give me a best answer to this question,"How to deal with irrate customers?"
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If you have done your homework about this organization, now is the time to use that knowledge. Remember, even as a recruited candidate, some facilities will want to understand why you would select them. If you are a recruited candidate, remind them that you were not looking when you were contacted, but that the challenge sounded intriguing and that a solid opportunity for career advancement is important to you.
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Thursday, March 20, 2008
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tt2tt
Friday, July 04, 2008 10:41 AM
Y so many answers for the same question ?
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Here's what the resume advice company Resume Edge recommends as a sample answer to the question, "Where do you see yourself in ten years?"

In ten years, I endeavor to have refined my strategic and client relations skills. I intend to be a leading expert in estate planning. After having proven myself as a senior manager, I hope to help shape the strategic direction of estate planning services. I could do this in any number of official roles. The important thing is that I will continue contributing my abilities in a challenging and rewarding environment.

More advice

  • While it is not usually a good idea to try to be a Jim Carey in an interview, depending on how things have gone and who you are dealing with, you might inject a little humour here and ask: "When do you expect to be promoted?" ....or "When are you moving on?... This could easily break the ice. Seriously, you can easily respond that you have no idea as you have no idea what you are capable of so far, although you know it is a lot. Therefore, you want to make sure you are open and flexible to whatever opportunites present themselves. If you actually know what you want to be when you grow up, you could offer to conduct a seminar on how to actuate that.

  • You know when you come to that common situation where someone asks you "Where do you see yourself in five years?" Yea you should call a person on that because that question is silly! You have no idea where you'll be in five years nor should you worry. I mean how depressing can that question actually be? If someone asked me that question five years ago I wouldn't have predicted my life to be like this nor would I have wanted to say my life would be like this, I'm not saying I'm unhappy with my life necessarily its just that in a span of five years a persons likes and dislikes change, the people around them either disappear, reappear, or show up for the first time. The things you once loved could become something you hate or vice versa. Aspirations change and feelings lose their magic. Yes you can say what you'd like to see happen in five years but I'm pretty sure it won't and five years from now when you look back on yourself answering that question you'll probably no longer want the same things. There's always hope but no definite so all you can do is live life like you have those five years to look back on...

  • When an interviewer asks this question, they're asking where you see yourself within a company. They don't want to hear you say, "Well, in five years, I will be married to a handsome European man, touring the South Pacific in our yacht with a maitai in my hand." They want something like, "Well, that will depend on my individual performance and on the opportunities I'm presented with, but ideally, I will be..." Even if you're going, "Yeah, like I'll be here in 5 years..." act like you will be. They don't want to hear you saying you'll essentially use them to get where you want, and the minute the opportunity is presented jump ship.
  • Some might think that you should not tell the interviewer that you want to move up the ladder of success, because they will fear that you might replace them or move on to another job. However, most would recommend that you answer with just the opposite: that you do want to be successful. A good manager wants his employees to be successful and grow in their careers because that benefits the whole company. If they don't want this, you don't want to work for them. As for the actual standards of success and specific career paths, they are very different for different people and different industries. It is most important to show that you do want to be successful.
  • Think educationally-- higher degree? certification? Think leadership-- at least one step up from where you are at now.

Where will you be in five years?

This is a very common job interview question. Think carefully about your plans. Really answer it for yourself, Where do you see yourself in five years? Where do you hope to be?

The interviewer is looking to find out a few things with this question. First, are you the type of person who plans ahead and sets goals? You should be. Second, do your goals match those of the company and the position? Your goals need to fit the career path for the job. They don't want to lose you in a year or two.

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Friday, May 16, 2008
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Comments (3) :
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bbfromdc
Monday, June 30, 2008 6:15 PM
I hope I can be a supervisor myself
2.
bbfromdc
Wednesday, June 25, 2008 5:23 PM
"Well, in five years, I will be married to a handsome hunk and 2 naughty intelligent mini mes in my hand."
27
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Wednesday, May 14, 2008
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bbfromdc
Friday, June 13, 2008 6:27 AM
I like this puzzle..
Very tough to guess..
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20 cents
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