Answer:
This process is known as Benchmarking
Explanation:
Benchmarking is the process of comparing business process and performance to the best practices from the other companies. The dimensions measured and compared are time, quality and cost.
This allows the organizations to improve the projects or plans or adapt the specific best practices with the aim of increasing the performance.
The license of the business could be revoked
The critique stated that sinve people's formed expectations is based <u>partly</u> on government policies, then, economists <u>cannot</u> predict the effect of a change in policy.
<h3>What is the Lucas critique?</h3>
This is a work of Robert Lucas that asserts that it is naive to predict the effects of a change in economic policy base on the relationships observed in historical data
The work states that since people formed expectations is based <u>partly</u> on government policies, the economists cannot predict the effect of a change in policy.
Therefore, the Option A is correct,
Missing options <em>A.) Partly; cannot, B.) Only partly; can, C.) In no way; can, D.) In no way; cannot.</em>
Read more about Lucas critique
<em>brainly.com/question/25188227</em>
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Answer:
The correct option is B
$400 unfavorable
Explanation:
Material quantity variance occurs when the actual quantity used to achieved a given level of output is more or less than the standard quantity.
It is determined by the difference between the actual and standard quantity of material for the actual level of output multiplied by the the standard price
pounds
Standard quantity allowed (5 × 1000) 5,000
Actual quantity <u> 5,200</u>
200 unfavorable
Standard price <u>×$2</u>
The quantity variance ($) <u>$400</u>unfavourable
Answer:
Performance-reward
Explanation:
With reference to the expectancy theory, when pay is based on factors other than performance, such as seniority, the <u>Performance-reward</u> relationship tends to be weak.
Expectancy theory: It is theory of motivation which advocate that employee should rewarded on the basis of performance and reward should be higher and known to the employee earlier, which motivate to perform well and put more effort in the task given as they know what would be the reward. The reward could be vacation, day off, salary hike, etc. The reward structure should also be clear with defined goal and transparent evaluation. Tenure of the employee should not be the major factor for pay hike, as it weaken the performance of employee.
