The Authors List Six Key Elements of Reengineering

question 54

Essay

The authors list six key elements of reengineering. Pick any three and describe their contribution to the reengineering effort.

---

Definitions:

Economic Profit

The difference between the total revenue generated by a business and the total costs of production, including both explicit and implicit costs.

Entrepreneur's Potential Earnings

Represents the possible income or profits an entrepreneur can expect to make from their business ventures, considering risks and the opportunity cost of alternative employment.

Annual Lease

An agreement where a lessor allows a lessee to use a property for a period of one year in exchange for payment.