Final answer:
Operational excellence is achieved via efficient operations, an excellent supply chain, and strong supplier relationships. This approach seeks to streamline production and distribution to enable cost savings and improve competition based on price. option b.
Step-by-step explanation:
Operational excellence is achieved through efficient operations, excellent supply chain, and strong relationships with their suppliers. The correct answer to this question is b) Operational excellence. Companies that focus on operational excellence make their operations as efficient as possible and often compete on the basis of price. They strive for a seamless production and distribution process, which can often lead to cost savings that they can then pass on to consumers. The critical elements that contribute to operational excellence include process efficiency, quality control, supply chain management, and strong relationship with suppliers that assure timely and cost-effective provision of goods.