Markov Analysis Is Particularly Useful in Organizations Where

question 59

Multiple Choice

Markov analysis is particularly useful in organizations where:

• A) the external environment is unstable and unpredictable
• B) internal (strategic) changes are complex and on-going
• C) jobs do not fluctuate rapidly due to external or internal change
• D) rapid response is needed to social and legal challenges
• E) economic conditions are changing quickly

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Definitions:

Process Controls

Mechanisms and procedures implemented to regulate and optimize the performance of processes within an organization.

Formalization

Is written documentation of work rules, policies, and procedures.

Total Quality Management

A holistic approach to long-term success that views continuous improvement in all aspects of an organization as a process and not as a short-term goal.

Centralization

The degree to which the authority to make decisions is restricted to higher levels of management.