Examlex
A high value for which of the following signals that an operations manager is excelling?
Good Enough
A term that refers to a satisfactory solution or product that meets basic requirements without needing to be perfect.
Sunk Costs
Expenses that have been incurred and cannot be recovered, which should not influence future economic decisions.
Production
The process of creating goods or services using inputs like labor, capital, and raw materials.
Bounded Rationality
The concept that decision-making is limited by the information, cognitive limitations, and time constraints.
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