Briefly Define and Explain the Following Terms

question 53

Essay

Briefly define and explain the following terms:
Productivity
Value Chain
Customer Relationship Management
Economic Order Quantity
Total Quality Management
Process Reengineering

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Definitions:

Voters

Individuals who have the legal right and are registered to participate in electing public officials or deciding on public issues through the electoral process.

Mediation

A form of alternative dispute resolution where a neutral third party helps disputants come to a consensus on their own.

Arbitration

A method of dispute resolution where a neutral third party (the arbitrator) makes a binding decision, outside of a courtroom.

Compulsory

Required by law or a rule; obligatory, leaving no option for non-compliance.