This Evaluation Procedure Uses Salespeople to Identify Important Performance Results

question 17

Multiple Choice

This evaluation procedure uses salespeople to identify important performance results and the critical activities and responses necessary to achieve these results:

• A) graphic rating/checklist method.
• B) team-evaluation consensus.
• C) management by objectives (MBO).
• D) behaviorally anchored rating scales(BARS).
• E) assessment-center method.

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Definitions:

Exact Value

The precise numerical quantity or measurement without approximation.

Estimate

To make an approximate judgment or calculation of the value, number, quantity, or extent of something.

Winner's Curse

A phenomenon that occurs in auctions where the winning bidder pays more than what the item is actually worth, usually because of incomplete information or misjudgment.

Common-value Auction

an auction format where the item for sale is of the same value to all bidders, but the bidders have different information about the item's actual value.