The local bank has taken their loan application screening process and input the loan application into a computer database.This makes it possible for those who process the loan to do it faster and more efficiently.This is an example of ________.
A)a paradigm shift
B)re-engineering
C)rationalization
D)automation

Question

Quizplus · Accepted Answer

Automation refers to using technology to automate manual or repetitive tasks, which is exactly what the bank has done by inputting the loan application into a computer database. This helps in processing the loan faster and more efficiently. A paradigm shift refers to a major change in the way things are done, whereas re-engineering involves rethinking and redesigning business processes. Rationalization is the process of streamlining operations to make them more efficient. None of these exactly fits the scenario described.

The Local Bank Has Taken Their Loan Application Screening Process