Which of the Following Goals Would Be a Good Example

question 55

Multiple Choice

Which of the following goals would be a good example of a "SMART" goal?

• A) Improve customer satisfaction because our satisfaction numbers have decreased
• B) Create new product ideas because our competition has introduced 3 new products in the past year
• C) Reduce scrap rates in manufacturing by 20% by the end of the third quarter
• D) Reduce the likelihood of product failures in the near future

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Definitions:

Labor

The application of human physical and intellectual labor in the manufacture and provision of goods and services.

Natural Resources

Materials or substances such as minerals, forests, water, and fertile land that exist in nature and can be used for economic gain.

Opportunity Cost

The act of losing possible benefits from other routes when a single path is chosen.

Trade

The exchange of goods and services between individuals, businesses, or countries, which can be domestic or international in nature.