What Is the Primary Purpose of Reengineering and Methods Improvement

question 90

Multiple Choice

What is the primary purpose of reengineering and methods improvement?

• A) to find the proper time required for each work activity
• B) to establish the standard cost for each work activity
• C) to increase the quality level of products
• D) to improve a firm's productivity and competitive strength

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Definitions:

Scarce Resources

Resources that are limited in supply, which can lead to competition for their use or access.

Economic Wants

Economic wants are desires that can be satisfied through the consumption of goods and services, which are often influenced by factors such as income, taste, and cultural trends.

Maximum Satisfaction

The highest level of satisfaction or utility achieved by a consumer through the consumption of goods and services.

Economic Principles

Fundamental theories and concepts that underpin the study of economics, guiding the analysis of economic behavior.