The business analysis core concept model (BACCM™) describes which of the following as "the act...

In the Business Analysis Core Concept Model (BACCM™), Change is defined as “the act of transformation in response to a need”. It is central to business analysis, as all efforts revolve around enabling or managing change that delivers value.

Exact Extract from BABOK® Guide v3 – BACCM™ Core Concept: Change:

“Change is the act of transformation in response to a need. The purpose of change is to improve the performance of an enterprise.”