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One often hears the word 'bottleneck' when one analyzes a business process. How would you define bottleneck for a process based on some of the

One often hears the word 'bottleneck' when one analyzes a business process. How would you define bottleneck for a process based on some of the computations you can perform?
Bottleneck is the step with the lowest capacity
Bottleneck is the step with the highest cycle time
Bottleneck is the step with the highest capacity
Bottleneck is the step with the lowest cycle time
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