Business Process Management Is All About

question 53

Multiple Choice

Business process management is all about

• A) CRM.
• B) installing SAP R/3 to gain industry standard processes.
• C) shortening your supply chain.
• D) accomplishing the same activities with less resource cost.
• E) becoming a cost leader under Porter's models.

---

Definitions:

Marginal Decision Making

The process of evaluating the benefits and costs of small (or marginal) adjustments to an existing course of action.

Economic Concept

A theoretical construct that represents ideas or theories within economics to explain various aspects of the economy, such as supply and demand, inflation, or growth.

Marginal Analysis

A method used in economics and decision-making that examines the costs and benefits of making small (marginal) adjustments to the quantity of a good or service.

Economic Terms

Vocabulary and phrases specific to the study and practice of economics, encompassing theories, models, and real-world financial practices.