A Key to the Success of Implementation of an ERP

question 57

True/False

A key to the success of implementation of an ERP system is to make the transition from the old way of doing things to the new way as quickly as possible, cutting corners whenever possible.

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Definitions:

Less Elastic

Describes a situation where a change in price leads to a relatively smaller change in the quantity demanded or supplied.

Market Segment

A group of potential customers who share similar needs or characteristics that a company targets with its products or services.

Earn Less Profit

A scenario where a business or individual generates a lower amount of financial gain from operations or investments.

Price Discrimination

A pricing strategy where identical or substantially similar goods or services are sold at different prices by the same provider in different markets or to different customers.