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What Is the Internal Referencing Strategy (IRS) and How Does

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Essay

What is the Internal Referencing Strategy (IRS) and how does it work? Be clear about how it is used to evaluate a training program.


Definitions:

Producing Units

Producing units are individual entities, such as factories or plants, within an organization that are responsible for producing goods or services.

Marginal Cost

The extra expense associated with manufacturing an additional unit of a product or service.

Marginal Revenue (MR)

The incremental earnings obtained from the sale of an additional good or service unit.

Marginal Cost (MC)

The increase or decrease in the total cost that arises when the quantity produced changes by one unit.

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