Page 345 - Business Principles and Management

Unit 4

can establish better standards and procedures by analyzing carefully collected infor-
mation on the way jobs are performed. Research is done to collect data for man-
agers and to provide the information needed to improve their planning decisions.

CHECKPOINT
What is the difference between a policy and a standard?

13.2 Assessment

UNDERSTAND MANAGEMENT CONCEPTS
Determine the best answer for each of the following questions.
1. The goal “to increase the average productivity of all work teams by
3 percent within six months” is an example of which characteristic
of an effective goal?
a. specific and meaningful
b. achievable
c. clearly communicated
d. consistent with each other
2. Guidelines used in making decisions regarding specific, recurring
situations are called
a. standards
b. policies
c. procedures
d. goals

THINK CRITICALLY
Answer the following questions as completely as possible.
3. How does the use of effective goals increase the chances that
business plans will be successful? Discuss each of the characteristics
of an effective goal.
4. How can businesses use information from competitors and
customers when establishing quality standards
for their products and services?

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