How does Michael Hammer define re-engineering in the context of business processes?

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A simple modification of existing workflowsA thorough rethinking and radical redesign of business processes to improve performance metrics like cost, quality, service, and speedA process focused solely on organizational restructuringAn unrelated concept to business improvementA gradual enhancement of business activities

Explanation

Michael Hammer describes re-engineering as the fundamental rethinking and radical redesign of business processes aimed at achieving significant improvements in critical performance areas such as cost, quality, service, and speed.