The Process by Which Organizations Move from Their Present State

question 35

Multiple Choice

The process by which organizations move from their present state to some desired future state is called ________.

• A) organizational triangulation
• B) environmental scanning
• C) organizational change
• D) transaction analysis

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Definitions:

Economic Profit

The difference between total revenue and total costs, including both explicit and implicit costs, reflecting the actual profitability of a firm beyond accounting profit.

Equilibrium

A state of balance in a market when the quantity demanded equals the quantity supplied, leading to no further incentive to change.

Short Run

A time period during which at least one factor of production is fixed, limiting the capacity to adjust fully to market conditions.

Maximum Total Profits

The highest possible profit that a firm can achieve, determined by subtracting total costs from total revenues at the optimal level of production.