In Practice, Under the EMS, a Member Country

question 15

Multiple Choice

In practice, under the EMS, a member country:

• A) had complete freedom in choosing the interest rate it wanted.
• B) had complete freedom in choosing its interest rate only if it is a very small country.
• C) could change its interest rate only if other countries changed theirs as well.
• D) could never change its interest rate.
• E) must apply to a special European Commission in order to change its interest rate.

---

Definitions:

Organizational Processes

entails the methods and practices through which an organization accomplishes its objectives, including decision-making, communication, and task allocation.

Reengineering

Reengineering involves fundamentally redesigning business processes, structures, and systems to achieve significant improvements in performance, productivity, and quality.

TQM

Total Quality Management is a management approach focused on long-term success by focusing on customer satisfaction, and involving all members of an organization in improving processes, products, services, and the culture in which they work.

Organizational Change

The process through which organizations transform their structure, strategies, processes, or culture to adapt to changes in the environment.