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This is defined as the portion of total risk that is attributable to firm or industry factors and can be reduced through diversification.
Formal Systems
Structured, rule-based procedures and methodologies established for consistent operation within organizations.
Work Processes
The tasks, procedures, and routines that are carried out to accomplish work objectives in an organization.
Structured Coordination
The deliberate arrangement and management of tasks, efforts, and communication within an organization to achieve coherence and efficient collective action.
Workarounds
Informal solutions or methods used to overcome problems or limitations in procedures or systems.
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