The Radical Redesign of the Way Work Is Done in Order

question 105

Multiple Choice

The radical redesign of the way work is done in order to achieve dramatic improvements in critical measures of performance is known as

• A)continuous improvement.
• B)kanban.
• C)kaizen.
• D)process reengineering.

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Definitions:

Complementary Goods

Products or services that are typically consumed together, where the demand for one increases the demand for the other.

Inelastic

Describing demand that changes little with price fluctuations; consumers’ buying habits are not significantly affected by price changes.

Price Elasticity

The measure of how much the quantity demanded of a good responds to a change in the price of that good, demonstrating the sensitivity of consumers to price changes.

Quantity Purchased

The total number of units of a product or service bought by consumers in a specified period.