The Difference Between the Value That an Activity Generates and the Cost

question 95

True/False

The difference between the value that an activity generates and the cost of the activity is called value-addition.

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Definitions:

Innovation

The act or process of introducing new ideas, devices, or methods, aiming to enhance processes, products, or services.

Performance Appraisal

A systematic evaluation of an employee's work performance and productivity to understand their abilities for further growth and development.

Horizontal Communication

The exchange of information, ideas, or feedback between individuals or groups at the same level in an organization.

Downward Communication

The flow of information from higher levels in an organizational hierarchy to lower levels, often related to directives, goals, or performance feedback.