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Discuss the Two Ways Process Redesign Can Take Place

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Discuss the two ways process redesign can take place.


Definitions:

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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