________ Is the Fundamental Rethinking and Radical Redesign of Business

question 94

Multiple Choice

________ is the fundamental rethinking and radical redesign of business procedures to achieve dramatic improvements in cost, quality, service, and speed.

• A)Product redesign
• B)Product research
• C)Process reengineering
• D)Flexible manufacturing
• E)Total quality management

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Definitions:

Research and Development

The activities undertaken by a business or organization to innovate and introduce new products or services.

Adaptation

The process by which organisms or entities adjust to changes in their environment or operations to ensure survival or efficiency.

Laboratory Research

The systematic investigation and experimentation carried out in a controlled environment, notably within a lab, aimed at acquiring new knowledge.

Economic Benefits

The advantage that an entity receives in terms of increased cash flows, cost savings, or other financial gains.