_____ Is a Process Whereby Companies Find Out How Others

question 141

Multiple Choice

_____ is a process whereby companies find out how others do something better than they do and then try to imitate or improve on it.

• A) TQM
• B) Continuous improvement
• C) Benchmarking
• D) Empowerment
• E) MBO

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Definitions:

Act-Learn-Build

A process approach that emphasizes action-oriented learning and building iteratively on results to develop new products, services, or businesses.

Social Entrepreneurship

The pursuit of entrepreneurial ventures with a major emphasis on achieving social goals and positive externalities.

Not-For-Profit

A tax status granted to companies performing functions deemed by Congress to be socially desirable that exempts them from income tax and, in some cases, allows them to receive tax-deductible donations.

Entrepreneurial Spirit

An attitude and approach characterized by innovation, risk-taking, and the ability to see and seize opportunities for business or personal gain.