answersLogoWhite

0


Best Answer

Potential benefits to a company that sets high standards is that more people will want to purchase their product or service because of the quality and people may be willing to pay more for it since it is a better good or service.

User Avatar

Wiki User

9y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What are some potential benefits to the company by setting such a high standard?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Continue Learning about Management

What is the benefits of a business setting smart objectives?

the benifits of setting smart objectives are, because they help you work


What are the benefits of constructing a business management plan?

Determining cash flow is one of the main benefits of constructing a business management plan. Making a business budget to help manage cash flow can be crucial to starting a business. Also knowing the pros and cons, and setting and achieving goals would be other benefits.


What are the 7 steps for goal setting?

The 7 steps of goal setting are: State the Goal Set a Deadline Identify the Obstacles Identify the People, Groups, and Organizations that Can Assist List the Benefits of Achieving the Goal List the Skills You Need to Acquire to Attain the Goal Develop a Plan


What is mission statement of white castle?

"Serving the finest products, for the least cost, in the cleanest surroundings with the most courteous personnel" Or "Our quest is excellence and standard setting leadership in each of our industries"


What is the difference between contract manufacturing and management contracting?

A contract manufacturing is the process under which a company or business hired the third company or business for the production of goods and services according to the need and specification of the parent company within the limitation of budget. Whereas management contract is the process under which the the company hired the third company for the overall operation, technical and managerial support of the company.

Related questions

What are the benefits of using appointment setting services?

There are a few benefits to using appointment setting services. They take leads, make calls, and set sale appointments for the staff which saves time for the company by not making a sale.


What are the benefits for a company to set targets?

A company benefits by setting targets to ensure that it is reaching its long term and short term goals/plans. These targets represent benchmarks to measure progress and to adjust where necessary.


What are the standard setting organisation in the catering sector and what it does?

name of a standard setting organisations in hospitality


What is the standard IRQ setting for a math coprocessor?

What is the standard IRQ setting for a math coprocessor?


What is meant by economic consequences in accounting standard-setting?

What is the Economic consequence of accounting standard-setting


What are the benefits of home business opportunities?

If you run your own home business there are many benefits. Some of these include being your own boss and setting your own hours, being home for your kids, and endless earning potential as long as you have good business knowledge.


What is standard tolerance for presuure relief valve setting?

+/- 5% of setting


By what means is a patient instructed as to potential benefits and risks of surgical procedures?

one-on-one instruction from a health care provider, educational sessions in a group setting, or self-guided learning videos or modules


What is Standard School District's motto?

The motto of Standard School District is 'Setting the STANDARD for Excellence'.


Can the costs of setting standards of service ever outweigh the benefits If so when and how?

They should not because the costs of setting standards is a one-off cost: there may be costs in maintaining those standards and in delivering services to those standards but that is not part of the cost of setting standards. On the other hand, the benefit of setting standard should be on-going - for ever - and so should outweigh the cost of setting them. However, that may not be true if services were delivered to a very high standard and setting the standard made no real difference to the delivery (all cost and no benefit), or worse, if the standards set were lower than the existing level (costs and negative benefits). Furthermore, suppose you sell goods and related after-sales services, but that these services are very rarely required. You may wish to spend a disproportionate amount on setting standards of services and treat the service element as a loss leader in order to be more competitive in selling your products.


What is setting for Milorganite on a Scott Standard rotary Spreader?

11.5 for Basic or Standard


What does objective setting for the next year do for a company?

The objective setting for the next year in a company defines the mission of the company. The objectives are goals that are set by a company to help in progression.