Examlex
Which of the following do organizations need in order to be effective?
Optimize Performance
The process of making something as effective or functional as possible, often through careful adjustments or improvements.
Consumer Surplus
The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually pay.
Product Value
The worth of a product perceived by the customer, often influenced by quality, functionality, and brand reputation.
Manufacturing Cycle
The complete process from the procurement of raw materials to the production of finished goods ready for sale.
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