Which Approach Views an Organization as a Series of Process,each

question 102

Multiple Choice

Which approach views an organization as a series of process,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:

Reporting Entity Concept

An accounting principle that identifies the entity for which financial statements are prepared, distinct from its owners, managers, or other entities.

Business Organizations

Various legal structures used by entities to conduct business, including sole proprietorships, partnerships, corporations, and cooperatives, each with distinct rules, liabilities, and taxation policies.

Corporation

A legal entity that is separate and distinct from its owners, providing the owners with limited liability.