reengineering

  

Definition

Systematic starting over and reinventing the way a firm, or a business process, gets its work done. Defined by Michael Hammer and James Champy (in their 1993 book 'Reengineering The Corporation') as "Fundamental rethinking and radical redesign of business process to achieve dramatic improvements in critical measures of performance such as cost, service, and speed." See also Business Process Reengineering.

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