Business Process Reengineering Is a Tool For

question 58

Multiple Choice

Business process reengineering is a tool for:

• A) expediting the redesign of existing products and shortening the design-to-market cycle.
• B) radically redesigning and streamlining how an activity (workflow)is performed,by pulling the pieces of strategy-critical activities out of different departments and unifying their performance in a single department or cross-functional work group that is in charge of the whole process,with the intent of achieving quantum improvements in performance.
• C) instituting total quality management.
• D) making the most effective use of Six Sigma techniques.
• E) the rapid redesign of an organization's structure so as to quickly create organizational competencies and capabilities.

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Definitions:

Checks

Written, dated, and signed instruments that direct a bank to pay a specific sum of money to the bearer or a named party.

Collection Delay

The time it takes for a business to receive payments owed by its customers after the sale or service has been delivered.

Miller-Orr Model

A model used in financial management to manage cash flows and liquidity levels, determining the optimal cash balance levels.

Weekly Interest Rate

The interest rate quoted or applied to a loan or savings account on a weekly basis.