Activities Necessary to Remain in Business Are Called Value-Added Activities

question 6

True/False

Activities necessary to remain in business are called value-added activities.

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Definitions:

Knowledge Management

The systematic process of creating, sharing, using, and managing the knowledge and information of an organization to achieve its objectives.

Competitive Advantage

The unique attributes or capabilities that enable an organization to outperform its competitors, generating greater value for its stakeholders.

Organising Knowledge

The process of categorizing and structuring information to make it easily accessible and useful.

Risk and Certainty

The degree of unpredictability involved in decision-making, where risk implies potential variations in outcomes and certainty implies known outcomes.