Examlex
Which one of the following factors has contributed to the decline in the number of years used to define short-term and long-term plans?
Low Cost
A strategy or condition of minimizing expenses to offer products or services at a competitive price point.
Focus Strategy
A competitive strategy where a company chooses to serve a particular segment or group of segments within a market, tailoring its products or services to better satisfy the specific needs of those segments.
Service Productivity
A measure of the efficiency of a service operation, typically calculated as the ratio of outputs (services provided) to inputs (resources consumed) in rendering the service.
Flexible Manufacturing System
A system that allows for the easy adaptation of the production equipment and processes to manufacture different types of products or change production volumes in response to market demands.
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