In an Attempt to Regain a Competitive Edge, Firms Have

question 118

Multiple Choice

In an attempt to regain a competitive edge, firms have

• A) reduced production costs by selecting suppliers that offer high-quality raw materials and components at reasonable prices.
• B) used green manufacturing to conserve natural resources and sustain the planet.
• C) used computer-aided and flexible manufacturing systems that allow a higher degree of customisation.
• D) improved control procedures to help ensure lower manufacturing costs.
• E) done all of the above.

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Definitions:

High-performance Organization

An organization that consistently outperforms its peers in key metrics such as profitability, customer satisfaction, and employee retention.

Knowledge Sharing

The exchange of skills, information, and experience among individuals or groups within an organization or community.

Occupational Intimacy

The degree of personal engagement and satisfaction an individual finds in their work, leading to a sense of fulfillment.

Co-workers Care

The consideration and support employees show to one another in the workplace, contributing to a positive and collaborative work environment.