Why Is It Preferable to Set Specific, Rather Than Vague

question 42

Multiple Choice

Why is it preferable to set specific, rather than vague or general goals?

• A) Specific goals are precise and measurable
• B) Specific goals are subjective
• C) Vague or general goals tend to be more motivating
• D) Specific goals do not rely on the performance of others, whereas general goals often do rely on the performance of others

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Definitions:

MRP

MRP, or Marginal Revenue Product, quantifies the added value generated by employing an additional unit of input in the production process.

Haircut

A reduction applied to the value of an asset for purposes of calculating capital requirements, margining, or risk assessment.

Marginal Revenue Product

The extra income produced by employing an additional unit of a production resource.

Cost Minimization

A strategy that companies employ to reduce their expenses and improve profitability without compromising the quality of their products or services.