________ Is an Organization's Ability to Offer Products or Services

question 30

Multiple Choice

________ is an organization's ability to offer products or services that are perceived by its customers as being superior and unique relative to those of its competitors.

• A) Strategy
• B) Product differentiation
• C) Cost leadership
• D) The balanced scorecard

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Definitions:

Productivity

The measure of the efficiency of a person, machine, factory, system, etc., in converting inputs into useful outputs.

Efficiency

The ratio of useful output to total input, referring to the effective use of resources without waste.

Skill-Based Pay

A compensation system that establishes pay levels based on the skills or qualifications an employee possesses, rather than the job position alone.

Quality Circle

A voluntary group of workers who perform the same or similar work, who meet regularly to identify, analyze, and solve work-related problems, aiming to improve the performance of their area and to enhance their own working lives.