The Essence of Process Reengineering Is to Locate Control for Processes

question 114

True/False

The essence of process reengineering is to locate control for processes with an identifiable group of people, and to focus each person and the entire system on meeting customer needs.

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Definitions:

Expenses

The outflows or other using up of assets or incurring of liabilities during a period from delivering or producing goods, rendering services, or carrying out other activities.

Reportable Segments

Segments of a business that must be disclosed separately in the company's financial reports due to their significant revenue, profitability, or other factors according to accounting standards.

Operating Profit

Earnings before interest and taxes (EBIT), calculated by subtracting operating expenses from gross profit.

Segment Revenues

Segment revenues refer to the income generated from a specific division or business unit within a larger corporation.