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:

New Imperialism

An era of overseas expansion by European countries, the United States, and Japan in the late 19th and early 20th centuries.

Second Industrial Revolution

A phase of rapid industrialization in the final third of the 19th century and the beginning of the 20th, known for advancements in steel production, electricity, and chemical synthesis.

Scramble for Africa

The rapid colonization of Africa by European powers during the late 19th and early 20th centuries, driven by economic interests, political competition, and cultural motives.

J.A.Hobson

An English economist and social scientist best known for his critique of imperialism and his theory on the economic roots of imperialism.