Final answer:
The series of steps followed to carry out tasks or activities in a business is referred to as a Business process. A business cycle is a term used to describe the fluctuations of economic activity over time and differs from a business process. Cyclic processes in engineering and physics return the system to its original state, but the paths they take can differ.
Step-by-step explanation:
The series of steps that are followed to carry out some task or activity in a business is called a Business process. This term refers to a collection of linked tasks, which find their end in the delivery of a service or product to a client. A business process has been defined as a set of activities and tasks that, once completed, will accomplish an organizational goal.
The business cycle, also known as the economic cycle, is different from a business process. It refers to the fluctuations in the economic activity of a business over a period. These fluctuations involve periods of expansion or boom followed by periods of stagnation or decline, which do not follow a predictable periodic pattern.
To clarify further based on the provided reference material, a cyclic process, as in a thermodynamic cycle, is a process in which the system returns to its original state at the end of the cycle.
This concept is often used in engineering and physics to describe systems that go through a series of changes yet return to their starting point, although the paths they follow may vary and thus produce different amounts of work.
Therefore, the correct answer is C. Business process.