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Benchmarking Plays the Guiding Role in Reengineering Business Processes

question 62

True/False

Benchmarking plays the guiding role in reengineering business processes.It provides the basis for course corrections on the road to excellence.


Definitions:

Marginal Cost

The added expense incurred from producing an additional unit of a good or service.

Average Total Cost

The total cost of production (fixed plus variable costs) divided by the total amount of output produced, indicating the cost per unit of output.

Marginal Cost

The production cost for one more unit of a product.

Marginal Cost Curve

A graphical representation showing how the cost of producing one additional unit of a good varies.

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