Plans That Define Company Responses to Specific Situations, Such as Emergencies

question 139

Short Answer

Plans that define company responses to specific situations, such as emergencies, setbacks, or unexpected conditions are called _____ plans.

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Definitions:

Efficiency Standard

A benchmark for measuring the productivity and performance of operations, often aiming to minimize waste and maximize output.

Volume Standard

A benchmark measure of quantity, used to gauge efficiency or capacity in production and operations.

Standard Setting Process

The procedures and guidelines used by regulatory bodies to establish and enforce acceptable levels of performance or quality for products or services.

Cost Behaviors

The analysis of how specific costs change in relation to changes in a company’s level of activity or volume of production.