The Process of Setting Standards, Receiving Feedback, and Taking Corrective

question 203

Short Answer

The process of setting standards, receiving feedback, and taking corrective action whenever performance deviates from standards is called __________ .

---

Definitions:

Roses

Flowers known for their beauty and aromatic qualities, often symbolizing love and affection in many cultures.

Total Surplus

The sum of consumer surplus and producer surplus in a market, representing the total welfare gains from trade.

Trade

The exchange of goods and services between people or entities, typically within and across national borders.

Skateboards

Wheeled boards used for recreational and sport activities, propelled by pushing with one foot.