Strato Engineering, a Technology Product Company, Formed a Team to Develop

question 121

Multiple Choice

Strato Engineering, a technology product company, formed a team to develop the next generation of the company's model CVF-D. The team is composed of employees from various functional areas. This is a ________ team.

• A) problem-solving
• B) self-managed
• C) virtual
• D) cross-functional

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Definitions:

Process Benchmarking

The process of assessing business methods and performance statistics by benchmarking them against the best practices in the industry or those adopted by other companies.

Industry Benchmarking

The process of comparing a company's performance metrics with those of the leaders in its industry to identify areas for improvement.

Balanced Scorecard

The Balanced Scorecard is a strategic planning and management system that uses financial and non-financial performance metrics to monitor and improve an organization’s performance.

Strategic Objectives

Long-term goals set by a business to guide its direction and decision-making processes, aiming to achieve competitive advantage.