One Benefit from Benchmarking Sourcing Practices Is

question 34

Multiple Choice

One benefit from benchmarking sourcing practices is:

• A)Savings in energy consumption and materials,lower distribution costs,and improved corporate image among regulators,customers and community.
• B)Lower prices of goods and services,use of fewer buyers and lower administrative costs.
• C)Larger market for products,economies of scale in purchasing and production,and lower labor costs.
• D)Allows firms to potentially leapfrog the experience-gaining stage by trying things that have worked well for other companies.

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Definitions:

Employee Engagement

The level of an employee's emotional investment, enthusiasm, and commitment to their work and workplace.

360-Degree Feedback

A performance appraisal method involving feedback from all directions: supervisors, peers, subordinates, and sometimes clients.

Strengths-Based Leadership

A leadership approach focusing on the identification and maximization of an individual's strengths and talents to improve organizational performance.

Human Factors Psychology

A field of psychology that focuses on understanding the interactions between humans and other elements of a system, aiming to improve product design, interfaces, and work environments.