________ Involves Investigating the Best Practices Used by Competitors and Noncompetitors

question 91

Multiple Choice

________ involves investigating the best practices used by competitors and noncompetitors and imitating those that can be done in the firm.

• A) Benchmarking
• B) Competitive intelligence
• C) Forecasting
• D) Corporate espionage

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Definitions:

Net Working Capital

The difference between a company's current assets and its current liabilities, indicating the liquidity and short-term financial health of the company.

Accounts Payable

Money owed by a business to its suppliers for goods or services received that have not been paid for.

Current Liability

A company's debts or obligations that are due to be paid to creditors within one year.

Shortage Costs

Expenses incurred from not having enough inventory on hand, including lost sales, backorder processing, and dissatisfied customers.