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New Ideas (Scenario)
Although New Ideas, Inc., has been in business for 30 years, the company and its employees seemingly have been in a constant state of change. Louai has been President of New Ideas, Inc. for the last 15 years. During this time, he has had to change the strategic focus of the company three times. The employees have become vocal recently about the decrease in their bonus checks and their desire for increased profits. It seems as though his competition is always introducing new products into the market, and New Ideas, Inc.'s niche products are constantly changing. Moreover, the government has been active in passing new legislation to increase the control of the product packaging and product contents. The technology used to manufacture the products has continually changed to make the process more efficient.
-The technology change in the manufacturing process of New Ideas, Inc.'s products to make the process more efficient is the result of a competitor lowering its price. Therefore, it was a(n) ________.
Linear Programming
A mathematical technique used to find the best outcome in a given mathematical model with linear relationships.
Problem Solving Software
Computer programs designed to assist with analyzing and solving complex problems, often used in various fields like engineering, mathematics, and business.
Constraint
A limitation or restriction in a system that can affect performance and output, often in the context of production or project management.
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