Well-Managed Organizations Create Policy,procedures,and Committees to Continually Assess Business Process

question 57

True/False

Well-managed organizations create policy,procedures,and committees to continually assess business process effectiveness.

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Definitions:

Legislation

Laws or legal statutes passed by a legislative body, governing body, or the process of enacting laws.

Market System

An economic system in which decisions regarding investment, production, and distribution are guided by the price signals created by the forces of supply and demand.

Private Ownership

The holding of property by non-governmental legal entities or individuals, allowing control and use of the property according to the owner's preferences.

Dollar Votes

The “votes” that consumers cast for the production of preferred products when they purchase those products rather than the alternatives that were also available.