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What Are Three Principles of Process Strategy That Should Govern

question 105

Essay

What are three principles of process strategy that should govern choices that process designers make? Provide examples of well-conceived process strategy choices to illustrate each of your three principles.


Definitions:

GDP

Gross Domestic Product; a measure of the economic output of a country, representing the total value of all goods and services produced over a specified time period.

GDP

Gross Domestic Product is the aggregate market value of all ultimate goods and services made within a nation over a specified period.

Total Income

The aggregate income earned by all individuals or entities in an economy, including wages, profits, and rent.

Total Expenditure

The sum of all outlays or spending by an individual, household, or an economic entity within a certain period of time.

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