List and Describe the Three Cross-Departmental Processes Common to Most

question 18

Essay

List and describe the three cross-departmental processes common to most companies. How could an organization use an ERP system to manage these processes? Would it be better for an organization to use a cloud-based ERP system (why or why not)?

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Definitions:

MRSxy

The marginal rate of substitution (MRSxy) is the rate at which a consumer is willing to trade off one good (x) for another (y) while maintaining the same level of utility.

MUx

Marginal Utility with respect to a good or service x, representing the additional satisfaction gained from consuming one more unit of it.

Px/Py

A ratio indicating the price of one good (Px) relative to the price of another good (Py), used in economics to analyze consumer choice and purchasing power.

Indifference Curves

Graphical representations used in microeconomics to show combinations of two goods that give the consumer the same level of satisfaction.