This Type of Process Reengineering Uses a Radical Improvement Method

question 52

Multiple Choice

This type of process reengineering uses a radical improvement method for change.

• A) Business Process Reengineering
• B) System Development Engineering
• C) Six Sigma
• D) System Quality Management
• E) Total Quality Management

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Definitions:

Constant Cost Industry

An industry in which the costs of production do not change as the industry's output changes.

Natural Monopoly

A market situation in which the average costs of production continually decline with increased output. In a natural monopoly, the average costs of production will be lowest when a single, large firm produces the entire output demanded by the marketplace.

Perfectly Elastic

Perfectly elastic refers to a situation in economic theory where the quantity demanded or supplied of a good changes infinitely in response to any change in price.

Price-taker Industry

An industry in which companies have no control over the prices they charge because these prices are determined by the overall supply and demand in the market.