In Benchmarking,a Retailer ________

question 109

Multiple Choice

In benchmarking,a retailer ________.

• A) compares its efficiency to those of comparable retailers
• B) evaluates its performance relative to its plans
• C) studies its customer satisfaction measure using the American Customer Satisfaction Index (ACSI)
• D) sets its own standards and measures its performance based on the achievements of its sector of retailing, specific competitors, high-performance firms, and/or the prior actions of the company itself

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Definitions:

Revenue Available

The total amount of income generated from sales or services before any expenses are deducted.

Expenses

Outflows or other using-up of assets or incurrences of liabilities during a period from delivering or producing goods, rendering services, or carrying out other activities that constitute the entity's ongoing major operations.

Invest

The act of allocating resources, usually money, with the expectation of generating an income or profit.

Money Order

A certificate of guaranteed payment, which may be purchased from a bank, a post office, or some convenience stores.