In own words please answer question in 100 wrds I have a few questions about...
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In own words please answer question in 100 wrds
I have a few questions about benchmarks that i need some help with. While I understand why a company needs to have benchmarks, why should I as a lowly employee care about these benchmarks? Would that answer change if as an employee i was involved in profit sharing?
Lets say that my company produces a bunch of different types of candles, all sorts of fun scents. If it costs me $8 to make this candle and we are selling them at $18 per unit, where should i set the benchmark for pricing? If other companies can make a candle for $7, would trying to produce mine for $6 be a good benchmark?
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