If a Firm Decided to Reevaluate and Reorganize the Way

question 3

Multiple Choice

If a firm decided to reevaluate and reorganize the way it did business, in hopes of creating competitive advantage, by changing or decreasing jobs, the company would be using which of the following management technique?

• A)The value chain.
• B)Business intelligence.
• C)Business process improvement.
• D)Product reevaluation.
• E)Life cycle costing.

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Definitions:

Substitutes

Goods or services that can be used in place of one another, where an increase in the price of one leads to an increase in demand for the other.

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity demanded by consumers at various prices.

Price

The amount of money required to purchase a good or service, determined by factors such as demand and supply.

Demand Curve

A graph showing the relationship between the price of a good and the quantity demanded, typically downward sloping, reflecting price sensitivity.