Which of the Following Is the Next Step in Implementing

question 6

Multiple Choice

Which of the following is the next step in implementing an SAP system after performing a gap analysis?

• A) evaluating ERP vendors
• B) determining industry structure
• C) crafting process objectives
• D) creating a competitive strategy

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Definitions:

Supply and Demand

The fundamental economic model that describes how prices are determined in a market based on the available quantity of goods or services and the desire for them.

Equilibrium Price

The price at which the supply of an item matches its demand, ensuring that the market is in balance.

Excess Supply

A situation where the quantity of a good or service supplied surpasses the quantity demanded at a specific price.

Excess Demand

Excess demand occurs when the quantity demanded of a product or service at a given price exceeds the quantity supplied, often leading to a shortage.