The following quote from the 10-K filed by Bear Stearns and Company for the fisc

Question

The following quote from the 10-K filed by Bear Stearns and Company for the fiscal year ending November 30, 2007 indicates that the financial services industry values people with the following characteristics: competent, well trained, motivated and disciplined. “There is intense competition in the financial services industry for qualified employees. In addition, we face increasing competition with businesses outside the financial services industry, such as hedge funds, private equity funds and venture capital funds, for the most highly skilled individuals. Our business could be adversely affected if we are unable to attract new employees and retain and motivate our existing employees.” True or False? Why? Thank you!

Explanation / Answer

True.

The statement is true because it clears emphasises that the financial services industry focuses on people, retaining their employees and training them to meet the challenging and competitive environment. It shows that any employee has to be continously trained to become skilled individuals.

Hence the statement is true.

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