The Theory of Constraints (TOC) Approach Is Strategically Important in Dynamic

question 58

Multiple Choice

The theory of constraints (TOC) approach is strategically important in dynamic markets because it leads to:

• A) A more responsive and flexible manufacturing environment.
• B) Better customer relationships.
• C) Quicker data accessibility.
• D) Faster setup times.

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Definitions:

Global Company

a business that operates in multiple countries around the world, often managing production, marketing, and distribution on an international scale.

Joint Venture

A business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task or project.

Licensing

An agreement whereby a licensee obtains the rights to use the licensed property of a licensor under specified conditions, often seen in software, franchise businesses, and intellectual property.

Local Market

A market within a specific geographical area where goods and services are exchanged within the local community.