Final answer:
A "currently attainable standard" emphasizes past performance of the organization, offering a pragmatic benchmark that is based on what has been achieved previously.
Step-by-step explanation:
A "currently attainable standard" emphasizes B. Past performance of the organization. This approach to setting standards is based on the concept that goals should be achievable and appropriate, meaning they should be within reach given the organization's past performance and capabilities. The focus is on what has been accomplished before and how the organization can realistically improve upon that.
These standards are also relevant, supporting other goals and strategic objectives of the organization, ensuring that they make sense in the larger context of the organization's mission and are worth striving for. Additionally, these goals should be time-bound, having specific deadlines to foster accountability and measure progress.
In contrast to a theoretical or ideal standard, which can often be out of reach and may not take into account actual operating conditions, or maximum performance, which might not be sustainable, past performance provides a solid basis for setting attainable goals. It avoids the unrealistic expectations of perfect competition, acknowledging that most real-world situations are more aligned with structures like monopoly, monopolistic competition, and oligopoly, where firms do not always operate at peak efficiency.