Final answer:
Reengineering is not just about improving current methods for efficiency, but rather involves complete redesign and rethinking of business processes for dramatic performance improvement. Therefore, the statement is False.
Step-by-step explanation:
Reengineering in a business context is often misunderstood. The statement in question suggests that reengineering is about concentrating on current methods to make them more efficient. This is False. Reengineering is more radical than mere efficiency improvements. It involves fundamentally rethinking and redesigning business processes to achieve dramatic improvements in critical measures of performance such as cost, quality, service, and speed. Instead of focusing on making existing processes better, reengineering is about starting over and inventing completely new ways of doing work. This can often lead to major changes in how a business operates.
For example, before reengineering, a company might have a complex and lengthy process for processing customer orders, with numerous steps and departments involved. After reengineering, the company might eliminate many of these steps, perhaps by using new technology to automate the process, or by restructuring teams to handle multiple functions at once.