Which of the Following Is NOT Essential to Establishing an Effective

question 22

Multiple Choice

Which of the following is NOT essential to establishing an effective benchmarking program?

• A) Senior management commitment
• B) Consistency between the organization's goals and the benchmarking program
• C) Clear improvement targets taken from a best-in-class performer
• D) An open and willing desire to change organizational culture
• E) Widespread understanding of customer desires and organizational processes

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Definitions:

Expense Ratios

Financial metrics that measure the efficiency of a fund by comparing the total expenses to the total assets under management.

Profits

The financial gain obtained when the revenue earned from business activities exceeds the expenses, costs, and taxes needed to sustain the activities.

Assets

Resources owned by a business or individual that have economic value or potential to provide future benefits.

Liabilities

Financial obligations or debts that an individual or company owes to others, which must be settled over time through the transfer of economic benefits including money, goods, or services.