The Rationale for the Welfare State as a Correction of Market

question 11

Multiple Choice

The rationale for the welfare state as a correction of market outcomes has a number of elements. Please select all that apply.

• A) The state has a responsibility to meet the basic needs of all citizens as social rights
• B) Individuals face risks in markets which they cannot be left to bear on their own
• C) Individuals are not always the best judges of their own welfare and vulnerable to being taken advantage of in markets
• D) Public service ideally embodies superior ethics of care and community

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Definitions:

BPR (Business Process Reengineering)

A strategy for making an organization's workflows more efficient and effective by radically rethinking and redesigning business processes.

BPI (Business Process Improvement)

A systematic approach to help an organization optimize its underlying processes to achieve more efficient results.

Operational Excellence

The philosophy of making continuous improvements in operations to enhance quality, efficiency, and customer satisfaction.

Mass Customization

A business strategy that combines the efficiency of mass production with the personalization aspects of custom-made goods or services.