It Has Been Said "Measurement Affects Behavior

question 28

Essay

It has been said "measurement affects behavior." What does this mean as it applies to business?

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Definitions:

Least Risky

Describes an option or decision that poses the smallest potential for loss, harm, or adverse outcomes.

Joint Venture

A business arrangement where two or more parties agree to pool their resources for the purpose of accomplishing a specific task or project.

Franchising

A method of conducting business wherein a franchisor licenses trademarks and proven methods of doing business to a franchisee in exchange for a recurring payment, and often a percentage of the franchisee's revenue.

Marketing Analytics

The practice of measuring, managing, and analyzing market performance.