Efficiency through bureaucracy is one method of maintaining profitability in a mature industry

Question

Quizplus · Accepted Answer

Efficiency through bureaucracy involves establishing hierarchies, policies, and procedures to optimize productivity and minimize waste. This can result in cost savings and streamlined operations, which can help maintain profitability in a mature industry where competition is high and profit margins may be lower than in newer or growing industries.

Efficiency Through Bureaucracy Is One Method of Maintaining Profitability in a Mature