Examining Internal Operations to See Where the Company Can Improve

question 14

Multiple Choice

Examining internal operations to see where the company can improve processes to lower costs of serving customers is an example of:

• A)process improvements.
• B)activity based pricing.
• C)managing relationships.
• D)the pricing waterfall.

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Definitions:

Competitive Advantage

A unique attribute or capability that allows an organization to outperform its competitors, creating greater value for its customers or stakeholders.

Agile Manufacturing

A method of manufacturing which emphasizes flexibility and adaptability to respond quickly to customer needs and market changes.

Boutique Engineering

Boutique Engineering refers to specialized engineering firms or departments that offer customized, high-quality engineering solutions, focusing on niche markets or specific client needs.

Customer-Driven Organisation

A business strategy focusing on creating value for customers by understanding and anticipating their needs and preferences.