Which Approach Views an Organization as a Series of Processes

question 81

Multiple Choice

Which approach views an organization as a series of processes, each of which adds value to the product or service for each customer?

• A) Low cost strategy
• B) Business process
• C) Value chain
• D) First-mover advantage

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Definitions:

Government Regulation

The imposition of laws and rules by government aimed at affecting the behavior of individuals and industries to achieve societal goals.

Extraction Cost

The cost associated with the removal of raw materials from the earth, which can influence the price of goods.

Property Rights

Legal rights to possess, use, and dispose of assets including real property, intellectual property, and other possessions.

Resource Extraction

The process of withdrawing natural resources from the environment for human use and consumption.