Value Analysis/value Engineering Has as Its Objective to Increase Product

question 24

True/False

Value analysis/value engineering has as its objective to increase product quality and reduce costs.

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Definitions:

Relative Bargaining Power

The balance of power between negotiating parties, which can affect the outcome of negotiations, often determined by one party's ability to exert more influence or resources than the other.

Strike Leverage

The power that employees and unions have during negotiations, derived from their ability to organize a work stoppage or strike effectively.

Resistance Points

In negotiations, these are the lowest values that a party will accept before walking away from the table.

Distributive Bargaining

A negotiation process focusing on dividing a fixed set of resources or value among parties, often seen in labor-management negotiations over wages and benefits.