Answer:
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Explanation:
Managers should set business goals before setting L&D goals.
A learning and development (L&D) strategy is a tool used by companies and organizations to train their staff according to business objectives. This strategy is characterized by:
- Constantly train staff.
- Continuous improvement is implemented in all departments of the organization.
To effectively implement a Learning and development plan, the company must perform the following steps:
1. Establish business objectives for each of the departments.
2. Formally implement the learning and development (L&D) strategy.
3. Integrate training that motivates and meets the needs of the staff.
According to the above, before establishing the objectives of the learning and development (L&D) strategy, the organization must establish business objectives.
Learn more in: brainly.com/question/12972154
Answer:
Explicit costs are the monetary costs that a business incurs when it makes a payment, either in the form of wages, or taxes, or to manufacturers, etc.
Implicit costs are the opportunity costs that arise when businesses give up on other options when making a choice. They are not represented by any actual payments.
In this case, we have the following explicit costs:
$420,000 paid to the manufacturer
$247,000 paid in wages and utility bills
And we have the following implicit costs:
$9,000 in rent per year if Hubert rented out the local
$32,000 per year if Hubert worked as a financial advisor
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