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The global financial crisis (GFC) caused many businesses to reduce their employee numbers - HSC - SSCE Business Studies - Question 16 - 2012 - Paper 1
Question 16
The global financial crisis (GFC) caused many businesses to reduce their employee numbers. What type of influence on human resources was this? (A) Economic (B) Fina... show full transcript
Worked Solution & Example Answer:The global financial crisis (GFC) caused many businesses to reduce their employee numbers - HSC - SSCE Business Studies - Question 16 - 2012 - Paper 1
Step 1
What type of influence on human resources was this?
Answer
The global financial crisis (GFC) significantly impacted businesses worldwide, leading many to reduce their workforce. This action is primarily influenced by economic factors as companies face decreased demand, financial instability, and the need to cut costs. Thus, the correct answer is:
(A) Economic