A Key Feature of Efficient and Reliable Processes Is That

question 15

True/False

A key feature of efficient and reliable processes is that a firm has been able to perform them routinely. However, routinizing a process is not sufficient to make it a distinctive competence.

---

Definitions:

Price

The monetary value that must be paid to secure a good or service.

Product

Anything that can be offered to a market to satisfy a want or need, including physical goods, services, experiences, events, persons, places, properties, organizations, information, and ideas.

Total Revenues

The total income generated from the sale of goods or services before any costs are subtracted.

Total Revenue

Total Revenue is the entire amount of money earned by a firm from the sale of its goods or services before any costs or expenses are deducted.