In Today's Competitive Environment, Cost Containment Is Extremely Important to Survival

question 105

Multiple Choice

In today's competitive environment, cost containment is extremely important to survival. Which of the following increases efficiency in the production and distribution of goods?

• A) tablets
• B) real-time data
• C) assembly lines
• D) self-managed teams

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Definitions:

Job Grading Method

A systematic approach used by organizations to evaluate and classify jobs based on their relative worth and complexity to establish appropriate compensation levels.

Job Classification

The system of organizing jobs into categories or grades based on the nature of the job duties, responsibilities, and qualifications required.

Point System Matrix

A structured evaluation tool that uses a numerical score to assess and compare various factors or options.

Weight Subfactors

Elements under a main category that are assigned different levels of importance or influence in an evaluation process.