Question 81

____ means identifying and imitating the best in the world at specific tasks and function.

Solution

A) Benchmarking: Benchmarking is the process of identifying and imitating the best practices and performance of leading organizations or individuals in a specific field. It involves studying and analyzing their methods to improve one's own performance.

B) Outsourcing: Outsourcing refers to the practice of contracting certain tasks or functions to external companies or individuals rather than handling them internally. It is done to leverage external expertise, reduce costs, or focus on core competencies.

C) Quality Circle: A quality circle is a group of employees within an organization who come together voluntarily to identify, analyze, and solve work-related problems. They aim to improve the quality, productivity, and efficiency of their work through collaborative efforts.

D) Continuous Improvement: Continuous improvement is an ongoing effort to enhance processes, products, or services within an organization. It involves identifying areas for improvement, making incremental changes, and monitoring progress to achieve better results over time. It is a fundamental principle of quality management and aims to optimize performance and customer satisfaction.


Create a FREE account and get:

  • All Quant Formulas and shortcuts PDF
  • 40+ previous papers with detau solutions PDF
  • Top 500 MBA exam Solved Questions for Free

cracku

Boost your Prep!

Download App