If a Business Needs a Particular Good or Service and Decides

question 43

Multiple Choice

If a business needs a particular good or service and decides to look among its own customers for a provider of that good or service,the business is:

• A) working to create purchase arbitration
• B) opening itself up to prosecution for illegal activities
• C) acting unethically
• D) trying to eliminate derived demand barriers
• E) practicing reciprocity

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Definitions:

Benchmarking

The practice of comparing business processes and performance metrics to industry bests or best practices from other companies.

Factor Analysis

A statistical method used to identify underlying variables, or factors, that explain the pattern of correlations within a set of observed variables.

Total Compensation System

The complete package of financial and non-financial benefits provided to employees, including salaries, bonuses, health insurance, and retirement plans.

Organizational Environment

The sum of internal and external factors that affect an organization's operation, including economic, technological, social, and political influences.