Generating Insights into How Technology and Processes Can Be Utilized

question 4

Multiple Choice

Generating insights into how technology and processes can be utilized to create new products and services or help the organization work more effectively is an example of which soft skill?

• A) Business understanding
• B) Strategic understanding
• C) Organizational understanding
• D) Creating a supportive environment
• E) Effective use of resources

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Definitions:

Absorption Costing

An accounting method that includes all manufacturing costs - direct materials, direct labor, and both variable and fixed manufacturing overhead - in the cost of a product.

Net Income

The total profit of a company after all expenses and taxes have been deducted from total revenues.

Operating Leverage

A measure of how revenue growth translates into growth in operating income, highlighting the fixed versus variable costs structure of a business.

Variable Costs

Costs that change in proportion to the level of production or sales activity, such as raw materials and direct labor.