Which of the Following Statements Best Describes Current Thinking Regarding

question 83

Multiple Choice

Which of the following statements best describes current thinking regarding processes?

• A)If companies concentrate on how functional areas like marketing, finance, and operations are organized, then everything will be fine.
• B)Managing functional areas like marketing, finance, and operations is essentially the same thing as managing what a business does.
• C)If the individual functional strategies of marketing, finance, and accounting are aligned with the overall business strategy, then everything will be fine.
• D)Developing superior business processes requires a cross-functional and cross-organizational perspective.

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Definitions:

Direct Labor Efficiency

A measure of the productivity of workers involved directly in manufacturing, calculated as actual hours worked versus standard hours.

Direct Labor Price

Refers to the rate paid for the labor directly involved in the production of goods or services.

Ideal Standards

Benchmarks for performance or production that assume perfect efficiency and effectiveness, often used for planning purposes.

Favorable Variances

Differences between expected and actual financial performance that result in better-than-expected profitability or cost savings.