The First Step of Preparing a Process Map Is To

question 44

Multiple Choice

The first step of preparing a process map is to:

• A)Identify entities and divisions
• B)Draw the lanes for each division
• C)Indicate any sub-functions
• D)Identify processes

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Definitions:

Revenue

The earnings a company garners from its principal operations, often through selling products and services to its clientele.

Supply

The total amount of a particular good or service that is available to consumers at a given price level in a given time period.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in its price; high elasticity indicates sensitivity to price changes.

Supply Curve

A graphical representation that shows the relationship between the price of a good or service and the quantity of that good or service that suppliers are willing and able to provide.