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Breaking one goal into several smaller goals is known as?
benchmarking
What is the difference between benchmark and benchmarking?
A benchmark is the result of benchmarking.
When monopolistic competition is compared to perfect competition what can you generally expect with reguard to price output and profit?
We can expect that prices are higher, output is less, and profits are high er.
What is the difference between benchmarking and benchmark?
benchmarking is aprocess of acquring benchmark
When was Global Benchmarking Network created?
Global Benchmarking Network was created in 1994.
How can benchmarking be used to anticipate change?
Benchmarking can be used to compare current performance with industry best practices, identifying areas where improvement is needed. By analyzing these benchmarks, organizations can anticipate changes in market trends and customer expectations, and proactively adjust their strategy to stay ahead of the competition. Benchmarking also enables organizations to track progress over time, identify emerging opportunities, and anticipate shifts in the competitive landscape.
Describe types of benchmarking commonly used in organisations?
historic, internal and external benchmarking
Explain the meaning of the term benchmarking in fire and safety?
Benchmarking is the process of comparing your procedures with those of other organizations that are considered to be leaders (or benchmarks) in those particular areas. Benchmarking has this meaning through the business world, not just in fire and safety. The purpose of benchmarking is to improve the way your organization does things.
How might the benchmarking and quality circles inprove quality?
for eg: for a product required by a customer, the benchmarking will be done by the customer. it means the product is of good quality which the customer was expecting. Benchmarking means the product has relative performance which is expected.
What has the author Justin Barnes written?
Justin Barnes has written: 'What chances operational competitiveness in the South African automotive components industry?' -- subject(s): Automobile supplies industry, Automobiles, Competition, International, Equipment and supplies, International Competition 'Globalisation and change' -- subject(s): Automobile industry and trade 'An analysis of the endogenous and exogenous factors impacting on the success of the Motor Industry Development Programme' -- subject(s): Automobile industry and trade, Government policy 'Competing in the global economy' -- subject(s): Automobile supplies industry, Automobiles, Competition, International, Equipment and supplies, International Competition, Marketing 'Improving operational competitiveness through firm-level clustering' -- subject(s): Automobile supplies industry, Automobiles, Benchmarking (Management), Competition, International, Equipment and supplies, International Competition, KwaZulu-Natal Benchmarking Club, Marketing
In which of the following market structures do firms produce the welfare-maximizing level of output?
Perfect competition!
Which statements correctly describe benchmarking?
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