The Organization Must Develop and Maintain Efficient and Effective Structural

question 29

True/False

The organization must develop and maintain efficient and effective structural processes,which deliver to the marketplace the products and/or services which the organization offers.

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Definitions:

Efficient Solution

An outcome wherein resources are allocated in the most effective way, maximizing benefits while minimizing costs or wastes.

Internalize Externalities

The process by which a firm takes into account the external costs or benefits of its activities, typically by incorporating them into its pricing structure.

Negative Externalities

Costs suffered by a third party as a result of an economic transaction, such as pollution caused by industry, which are not reflected in the market prices.

Positive Externalities

Benefits that result from a transaction or activity and affect others not directly involved in the transaction or activity.