Question

If a firm decided to reevaluate and reorganize the way it did business, in hopes of creating competitive advantage, by changing or decreasing jobs, the company would be using which of the following management technique?
A. The value chain.
B. Business intelligence.
C.Business process improvement.
D. Product reevaluation.
E. Life cycle costing

Answer 1

Answer:

C. Business process improvement.

Explanation:

Product reevaluation and Life cycle costing are product dependent and aims to improve products on the individual level and the business on the whole.

Business Intelligence is when businesses use different types of data to compile an analysis for informed decision making.

A value chain refers to all the activities that a business undertakes from procurement of raw materials to adding value. This can be a part of improvement process but it is not directly related.

Business process improvement is when management identifies all the business processes and analyses if there is a need for improvement and identifying areas that need change - then improving upon these findings.

This is the right answer.

Hope that helps.