Benchmarking Concept

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Management Approaches
Corporate citizenship, lean manufacturing, TQM, activity based management, benchmarking, and Goldratt’s Theory of Constrains are concepts used by many corporations to streamline operations, meet demands of stakeholders, and ultimately to improve profitability.
Required:
Use Internet to research at least one of the above concepts. How are these relevant to managerial accounting? Please be specific and provide an example or a corporate story as an illustration in your original posting.

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