The death toll from the 2005 blast at the British-based BP oil refinery in Texas City was 15 . The U.S. Chemical Safety and Hazard Investigation Board (CSB), one of several agencies that examined the causes of the blast, said internal BP documents show that when BP acquired the refinery, it ordered an immediate 25 percent cut in fixed costs at its refineries without specifying how the cuts were
to be made. Managers at the refinery let safety standards decline to meet this goal. A ______ approach to control would have minimized the possibility of suboptimization.
a. benchmarking
b. customer churn
c. balanced scorecard
d. customer defection
e. financial ratio analysis
C
Business
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Use of technologies such as just-in-time inventory systems and computer-aided design has reduced pressures for firms to establish long-term relationships with their suppliers.
a. true b. false
Business
Economic forces, social forces, technological advances, and political and regulatory changes are not sources for finding competitive advantage
Indicate whether the statement is true or false
Business