An Organizational Chart Is a Graphic Illustration of the Organization's

question 148

True/False

An organizational chart is a graphic illustration of the organization's management hierarchy and departments and their working relationships.

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Definitions:

Lead Times

The amount of time that passes from the initiation of a process to its completion.

Value-Added

The increase in worth of a product or service as a result of a particular process.

Lean Philosophy

A management approach focusing on minimizing waste and maximizing value in processes by considering customer value as the primary goal.

Necessary Buffer

A strategic reserve or margin of safety to mitigate risk or unforeseen circumstances, ensuring stability and continuity.