Improving the Efficiency and Effectiveness of Its Business Processes Will

question 127

True/False

Improving the efficiency and effectiveness of its business processes will improve a firm's value chain.

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Definitions:

Capacity Management

Capacity management is the process of planning and controlling the resources needed to meet demand, ensuring optimal use of an organization's capacity.

Productivity

The efficiency with which resources are used to produce goods and services.

Differentiation

The process of distinguishing a product or service from others to make it more attractive to a particular target market.

Tangibility

Tangibility refers to the physical nature of a product, distinct from services or digital products, which can be seen, touched, and owned physically.