Staying Power Refers to The

question 15

Multiple Choice

Staying power refers to the:

• A) relative abilities of parties in a situation to exert influence over each other.
• B) position of a firm in a competitive landscape that allows it to maintain a positive cash flow.
• C) ability of a firm to produce a good or service at a lower opportunity cost than a rival.
• D) long-term viability of a product or service.
• E) ability to take advantage of complementary products developed for a prior generation of technology.

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Definitions:

Normal Time

The average time taken by a worker to complete a task under normal working conditions.

Standard Time

The established duration designed for the completion of a specific task, under normal working conditions and performance.

Time Study

A work measurement technique for recording the times of performing a task to establish a standard time for the activity by direct observation and timing.

Labour Standard

Labour standard represents the amount of time required to perform a job or part of a job at a defined level of performance, often used in planning and evaluating labor efficiency.