Define reengineering.

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Reengineering does result in creation of lasting value for any organization, if implemented at the right time and in the right manner. In today's dynamic business and ever changing business environment, companies need to be proactive and change themselves to adapt to changing business environment and emerging technologies and practices. Reengineering helps the organizations to take a step forward towards adopting new and emerging techologies and best practices which results in significant improvement in productivity, efficiency and quality of products/services of the organization. Reengineering removes all the obsolete processes and results in signficant improvement in the way processes are being carried out in organizations.
Some of the potential benefits of reengineering can be as follows:

1) Reengineering rejuvenates employees and empower them to perform with better efficiency by discovering new processes, ...