LexisNexis Realized That Its Ability to Serve New Web-Based Customers

question 57

Multiple Choice

LexisNexis realized that its ability to serve new Web-based customers was severely straining its customer service department after thousands of small and midsize law firms representing a huge business opportunity had to wait 48 hours to have their Web accounts activated after signing up. Clearly, LexisNexis needed to revamp its customer sign-up and order-fulfillment processes, which were designed for large law firms and the ordering of hardcover legal tomes. LexisNexis would most likely use ____ to radically change its business practices.

• A)standardization
• B)micro-adaptation
• C)sequential independence
• D)reengineering
• E)customer empowerment

Distinguish between the short run and long run in economic analysis, particularly in terms of firm behavior and market dynamics.

Apply the concepts of sunk costs and opportunity costs in economic decision-making.

Evaluate the conditions for long-run equilibrium in competitive markets and the adjustment process following changes in demand.

Comprehend the role of supply and demand in determining market equilibrium and the effects of shifts in demand.

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Definitions:

Compound

A compound that results from the chemical union of multiple elements in specific proportions.

N-ethyl-N-methyl-1-hexanamine

N-ethyl-N-methyl-1-hexanamine is an organic compound featuring an amine group, with a structure derived from hexane by substituting hydrogen atoms with an ethyl and a methyl group on the nitrogen atom.

Structure

The arrangement or organization of atoms within a molecule, influencing its chemical behavior and physical properties.

Systematic Name

The name of a chemical compound that conveys the compound's molecular structure in accordance with the rules of a particular nomenclature.