What Is Enterprise Resource Planning (ERP)

question 23

Multiple Choice

What is enterprise resource planning (ERP) ?

• A) The management of information flows between and among activities in a supply chain to maximize total supply chain effectiveness and corporate profitability
• B) Integration of all departments and functions throughout an organization into a single IT system (or integrated set of IT systems) so employees can make decisions by viewing enterprise-wide information about all business operations
• C) A means of managing all aspects of a customer's relationship with an organization to increase customer loyalty and retention and an organization's profitability
• D) Connection of the plans, methods, and tools aimed at integrating separate enterprise system

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Definitions:

Credible Threat

A concept in game theory where a threat or strategy is believable and likely to be carried out by a player.

Evolutionary Stable Strategy

A strategy in game theory that, if adopted by a population in a competitive environment, cannot be invaded by any alternative strategy due to its superior success.

Payoffs

The gains or losses realized as a result of a decision or action in a game or transaction.

Business Dealings

Any activity or transaction between companies or individuals in the conduct of their commerce or trade.