Improving Business Processes by Reengineering Them,benchmarking Specific Activities Against Industry

question 23

Multiple Choice

Improving business processes by reengineering them,benchmarking specific activities against industry leaders,encouraging employee input to identify excess costs,increasing capacity utilization,and improving employee productivity lead to a significant overall gain.These are examples of which turnaround strategy used by successful companies?

• A) asset and cost surgery
• B) selective product and market pruning
• C) piecemeal productivity improvements
• D) global expansion

---

Definitions:

Private Good

A product or service that is consumed by an individual without providing any benefit to others, characterized by its excludability and rivalry in consumption.

Economic Efficiency

The optimal allocation of resources to maximize output or outcomes without waste.

Economic Efficiency

Economic efficiency occurs when the allocation of resources maximizes the total net benefit received by all individuals in the economy.

Constitutional Rules

The fundamental principles and established precedents according to which a state or other organization is governed.