In Order to Improve Services to Customers, Northwest Electric, a Regional

question 195

True/False

In order to improve services to customers, Northwest Electric, a regional monopoly, recently rated their company's processes and products against the results achieved by the world's best at similar processes and products. Northwest Electric has adopted a policy of international standardization.

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Definitions:

Vertical Integration

A strategy where a company expands its business operations into different steps on the same production path, such as a manufacturer owning its supplier and/or distributor.

Upstream Suppliers

Companies or entities that provide raw materials, components, or services to another company for the production of goods.

Business Strategy

A plan of action designed to achieve a specific set of objectives that ensures the growth and success of an organization.

Extranets

Private networks that use Internet technology and the public telecommunication system to securely share part of a business's information or operations with suppliers, vendors, partners, customers, or other businesses.