Traditional Business Improvement Includes

question 5

Multiple Choice

Traditional business improvement includes:

• A) Top-down participation
• B) Long time requirements
• C) Brand new business processes
• D) Incremental levels of change

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Definitions:

Worst-case Scenario

A situation where the worst possible outcome occurs, often used in planning and analysis to prepare for and mitigate risks.

Scenario Analysis

A process of analyzing future events by considering alternative possible outcomes (scenarios), often used for strategic planning to understand potential risks and opportunities.

Base-case Analysis

An evaluation technique in which the projected performance of a project is calculated under a set of assumptions considered most likely or average.

Sensitivity Analysis

A method employed to ascertain the impact of varying independent variable values on a specific dependent variable, based on certain assumptions.