Business Process Reengineering

question 32

Multiple Choice

Business process reengineering:

• A)Is an incremental approach to redesigning business processes
• B)Involves redesigning business processes from scratch
• C)Is rarely successful in cutting an organization's costs
• D)Is always welcomed by an organization's employees

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Definitions:

Monopoly

Market situation in which a single seller dominates trade in a good or service for which buyers can find no close substitutes.

Less-developed Countries

Nations with a lower standard of living, underdeveloped industrial base, and low Human Development Index (HDI) relative to other countries.

Lucrative Market

A market segment in which a company can generate substantial profits due to high demand or superior positioning.

International Trade

The exchange of goods and services between countries, which can involve imports, exports, and the balance of trade.