__________ Involves Strategic Management of All Operations Relating an Organisation

question 22

Multiple Choice

__________ involves strategic management of all operations relating an organisation to the suppliers of its resources.

• A) Internal customer management
• B) Value chain management
• C) Customer relationship management
• D) Supply chain management
• E) Total quality management

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Definitions:

Fixed-Proportion

A production scenario where the input proportions cannot be changed; each unit of output requires the same ratio of inputs.

Production System

The combination of inputs, processes, and outputs that creates goods or services in an organized manner.

Labor Inputs

The quantity of labor used in the production process, often measured in hours worked or number of employees.

Decreasing Returns

A situation in which adding more of one factor of production, while holding others constant, will yield progressively smaller increases in output.