What is benchmarking?
What will be an ideal response?
To compete for talent, organizations use benchmarking, a procedure in which an organization compares its own practices against those of successful competitors. In terms of compensation, benchmarking involves the use of pay surveys. These provide information about the going rates of pay at competitors in the organization's product and labor markets.
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The theory of reciprocal demand does NOT well apply when one country
a. produces under constant-cost conditions. b. produces along its production possibilities frontier. c. is of minor economic importance in the world marketplace. d. partially specializes the production of its export good.
Answer the following statements true (T) or false (F)
1. The task of summarizing the flow of physical units is one of the four steps involved in the preparation of the production cost report. 2. The number of equivalent units for direct materials and conversion costs must always be equal. 3. The weighted-average method determines the cost of equivalent units of production by accounting for beginning inventory costs separately from current period costs. 4. The equivalent units of production for transferred in units are always 100%. 5. Cost amounts that are transferred out of one department become the transferred in cost for the next department.
________ logistics involves moving products from the factory to resellers and ultimately to customers
A) Customer-centered B) Outbound C) Upstream D) Reverse E) Inbound
Countries with slower-rising unit labor costs are investment prospects for companies striving to lower production costs.
Answer the following statement true (T) or false (F)