Why Is It Important for an Organization to Develop Well-Articulated

question 35

Essay

Why is it important for an organization to develop well-articulated and instantiated values?

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Definitions:

Inputs

Resources used in the process of production, including labor, materials, and capital.

Derived Demand

Derived demand occurs for a factor of production when the demand for another good or service drives it, such as the demand for raw materials increasing due to higher demand for the final product.

Factor of Production

An economic resource used in the production of goods and services, including labor, capital, land, and entrepreneurship.

Market

A group of buyers and sellers of a particular good or service.