Benchmarking Can Trigger Dissatisfaction with the Status Quo

question 57

True/False

Benchmarking can trigger dissatisfaction with the status quo.Conversely,benchmarks have the power to influence behavior in unexpected ways,even counter-productive ways.

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Definitions:

Profit

The financial gain realized when the revenue from business activities exceeds expenses, costs, and taxes.

Revenue

The sum of earnings from selling goods or providing services which are fundamental to a company's core business activities.

Profit-Maximizes

The procedure an enterprise employs to find the optimal price and output level for maximum profit.

Long Run Adjustment

The process through which firms adjust their levels of production, capital, and other inputs to reach a new equilibrium in response to changes in market conditions over time.