A Board Meeting

question 6

Multiple Choice

A board meeting:

• A) must be held at the place of business.
• B) must be held annually.
• C) almost always involves a trip to an exotic location.
• D) is a meeting at which managers give employees incentives to perform better.

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Definitions:

Performance Measurement

The process of evaluating and analyzing the effectiveness and efficiency of an action or operation, often using indicators or metrics.

Continuous Improvement

An ongoing effort to improve products, services, or processes through incremental and breakthrough improvements.

Non-Value-Added Cost

Expenses that do not add to the value or functionality of a product or service from the perspective of the customer.

Value-Added Cost

The increase in the value of goods or services as a result of a particular activity or process.