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Discuss the two ways process redesign can take place.
Ruthlessly Efficient
Operating with extreme efficiency, often at the expense of other considerations such as employee welfare or ethical considerations.
Recognizable Brand Name
A brand name that is widely known among the public and is easily recalled or recognized due to its reputation or marketing.
Monopoly Power
Refers to the ability of a firm or entity to control the market price and output of a product or service, due to lack of competition.
Perfect Competitor
An individual or firm operating in a perfect competition market structure, unable to influence the market price and thus takes it as given.
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