The Purpose of Setting Specific Quantitative Goals Is

question 36

Multiple Choice

The purpose of setting specific quantitative goals is:

• A)to make sure that employees are held accountable for achieving the stated goals.
• B)to ascertain whether or not the company has successfully avoided any potential labor surpluses or shortages.
• C)to collect data about current employees and measure their performances.
• D)to focus attention on the problem and provide a benchmark for determining the relative success of any programs aimed at redressing a pending labor shortage or surplus.
• E)to predict areas within the organization where there will be future labor shortages or surpluses.

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Definitions:

Benchmarking

The act of evaluating business operations and performance indicators against the standards of the industry or exemplary practices from different organizations.

Cause-And-Effect Diagram

A visual tool used to systematically identify and present the potential causes of a specific problem, often resembling the shape of a fishbone.

Fishbone Diagram

A visual tool for root cause analysis, illustrating the main causes and sub-causes leading to an effect, often used in problem-solving and quality control.

Taguchi Loss Function

The Taguchi Loss Function is a statistical method used to measure the cost of deviation from a target value, emphasizing the reduction of variation in a process rather than just meeting specifications.