A Benefit Obtained from Using Industry Averages Is That It

question 136

Multiple Choice

A benefit obtained from using industry averages is that it provides a(n)

• A) benchmark to compare the company's results.
• B) indication where errors exist in the statements.
• C) benchmark to be used in evaluating a client's budgets.
• D) comparison of "what is" with "what should be."

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Definitions:

Time And Motion Studies

Analytical techniques used to evaluate the efficiency of a worker's performance by breaking down tasks into their components.

Fordism

denotes a system of industrial production characterized by mass production and high wages, standardized products, and assembly-line methods, originating from Henry Ford's practices.

Total Quality Management

A comprehensive management approach focusing on continuous improvement in all aspects of a business, aiming to ensure high quality in products or services.

Job Control Unionism

A unionism approach focused on managing aspects of work such as hiring, promotions, layoffs, and work rules through collective bargaining.