Benchmarking involves (1) identifying best practice, (2) studying it in detail and then (3) planning to copy the best practice. Which statements are correct?
A) Statements 1 and 3
B) Statements 2 and 3
C) Only statement 1
D) Statements 1 and 2
Answer: D
Explanation: A) Incorrect. Statement 1 is correct. Statement 2 is correct. Statement 3 is incorrect. The steps to benchmarking are finding best practice, studying it in detail, and then planning to exceed (not copy) that performance.
B) Incorrect. Statement 1 is correct. Statement 2 is correct. Statement 3 is incorrect. The steps to benchmarking are finding best practice, studying it in detail, and then planning to exceed (not copy) that performance.
C) Incorrect. Statement 1 is correct. Statement 2 is correct. Statement 3 is incorrect. The steps to benchmarking are finding best practice, studying it in detail, and then planning to exceed (not copy) that performance.
D) Incorrect. Statement 1 is correct. Statement 2 is correct. Statement 3 is incorrect. The steps to benchmarking are finding best practice, studying it in detail, and then planning to exceed (not copy) that performance.
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Signature Corporation has three product lines: silver, gold, and platinum. All three products have a positive contribution margin, but the gold line has an operating loss. Management is considering discontinuing the product. Management decides to discontinue the gold line. Which of the following must be true if the management followed the decision rule?
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