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When the Firm Changes the Way It Operates, the Process

question 20

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When the firm changes the way it operates, the process is known as:


Definitions:

Long-term Relationships

Long-term relationships refer to lasting partnerships or interactions between businesses and their stakeholders, aimed at mutual benefit and sustained over time.

Online Inventory Systems

Systems that manage the tracking of product quantities, orders, sales, and deliveries using internet-based software.

Value Driven

A business approach focused on creating and maximizing value for customers, stakeholders, and the organization through its products, services, and operations.

Good Marketing

Strategies and tactics used by companies to promote, sell, and distribute a product or service effectively to the target customers.

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