What is benchmarking and how do the two types differ?
What will be an ideal response?
Answer: Benchmarking is the process of identifying, understanding, and adapting outstanding practices from within the same organization or from other businesses to help improve performance. Competitive benchmarking requires the comparison of processes with those of a direct competitor. Process benchmarking requires the comparison of processes from a non-competitor; either an outside organization or another internal function.
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Answer the following statements true (T) or false (F)
1. Feedback points to the need for us, as communicators, to look to for cues from the other person with whom we are communicating. 2. Messages and feedback are essentially the same thing in the communication model. 3. To say that you cannot not communicate is to say that everything is communication
U.S. sugar import quotas have existed for more than fifty years and preserve about half of the U.S. sugar market for domestic producers. These quotas are examples of ________
A) embargoes B) nationalization C) protectionism D) expropriation E) disintermediation
The principal offensive strategy options include all of the following except
A. using hit-and-run or guerrilla warfare tactics to grab sales and market share from complacent or distracted rivals. B. initiating a market threat and counterattack simultaneously to effect a distraction. C. pursuing continuous product innovation to draw sales and market share away from less innovative rivals. D. offering an equally good or better product at a lower price. E. launching a preemptive strike to secure an advantageous position that rivals are prevented or discouraged from duplicating.
On September 30, the Sorting Department of Tea Works had ending Work-in-Process Inventory of 30,000 units that was 46% complete for materials and 36% complete for conversion costs
This means that for the beginning Work-in-Process Inventory, ________% of the materials and ________% of conversion costs were added during October. A) 46; 36 B) 64; 54 C) 54; 64 D) 36; 46