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Describe the Open Systems Concept of Organizations and Give an Example.What

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Describe the open systems concept of organizations and give an example.What is the value of the open systems concept?


Definitions:

Defined Contribution Plan

A retirement plan where both the employee and employer contribute to an account, with the final benefit dependent on account performance.

Risk-free Return

The theoretical return on an investment with no risk of financial loss, typically less than the return on riskier investments.

Defined Contribution Plan

A retirement plan where an employee, employer, or both make contributions on a regular basis, with future benefits fluctuating based on investment earnings.

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