To Be Responsive to Changes in Customer Demands,technology,competition,and Resources,______

question 89

Multiple Choice

To be responsive to changes in customer demands,technology,competition,and resources,______.

• A)the operations management function must be careful about choosing the right area in which to function
• B)the operations management function must be dynamic
• C)the operations management function must be cost conscious to ensure that change is not too expensive
• D)the operations management function must seek to outsource more of its operations

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Definitions:

Market-Based Reform

Changes or improvements to policies or practices that are guided by the principles of free market competition.

Social Regulation

Rules imposed by government to correct market failures and improve the social welfare, often relating to health, safety, and the environment.

Economic Regulation

The imposition of rules by the government, aimed at modifying the natural behavior of the economy to achieve specific outcomes like protecting consumers or ensuring fair market competition.

Overregulation

A situation where excessive rules and regulations impede business operations, innovation, or personal freedoms.