What Is a Systematic Approach to Assessing and Improving the Value

question 41

Multiple Choice

What is a systematic approach to assessing and improving the value of business processes within your organization to further increase its competitive strengths?

• A)RGT
• B)Top line strategic planning
• C)Value-chain analysis
• D)Emergent thinking

---

Definitions:

Total Fixed Costs

The total of all expenses that stay the same no matter the amount of production or output.

Average Total Costs

The total cost of production (fixed and variable costs combined) divided by the number of units produced; it shows the cost per unit of output.

Variable Costs

Costs that change in proportion to the level of output in the production process.

Total Fixed Cost

The sum of all costs that remain constant regardless of the level of production or output in the short run.