Define the difference between process and function and provide an example
What will be an ideal response?
A business process is a collection of interrelated tasks that solve a particular issue and produce a specific output. Processes are characterized by the fact that they have a specific beginning and an end point marked by the delivery of a desired output. A business function is an activity or a transaction, which does not have a beginning and an end and is continued. An example could be marketing for process and sales for function. Purchasing grocery is a process, while purchase grocery is a function.
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Which of the following types of change takes place within an organization’s existing framework?
A) Incremental change B) Discontinuous change C) Strategic change D) Grassroots change
What element is defined as the capacity to influence the actions of others?
What will be an ideal response?
Investors in venture capital firms expect to profit quickly from their investment
Indicate whether the statement is true or false
All of the following are examples of increased customer value from organizational synergy EXCEPT:
A. improved quality of existing products B. improved distribution C. more products D. increased brand awareness E. lower prices