Which Term Refers to the Fundamental Rethinking and Radical Redesign

question 90

Multiple Choice

Which term refers to the fundamental rethinking and radical redesign of business processes to become more competitive?

• A) reengineering
• B) total process quality
• C) total quality management
• D) management by objectives

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Definitions:

Real Future Value

The measure of the future value of an investment or stream of cash flows, adjusted for inflation, to reflect the actual purchasing power of that future amount.

Inflation

The rate at which the general level of prices for goods and services is rising, and subsequently, purchasing power is falling.

Deposit Insurance

Deposit Insurance is a protection scheme for bank depositors that guarantees the safety of deposits in member banks, up to a certain limit, in the event of a bank failure.

Moral Hazard

A situation in which one party is more likely to take risks because they do not have to bear the full consequences of their actions, often seen in insurance and finance.