The Central Idea of Business Process Design Is That Organizations

question 22

True/False

The central idea of business process design is that organizations should automate or improve their existing functional systems.

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Definitions:

Opportunity Costs

The expense incurred from not selecting the subsequent preferable choice when a decision is made.

Comparative Advantage

The ability of a country or entity to produce a good or service at a lower opportunity cost than others, enabling trade benefits.

Production

A process that transforms resources into goods and services.

Absolute Advantage

The ability of a country, company, or individual to produce a good or service more efficiently than competitors using the same amount of resources.