Many Companies Have Dropped Formal Strategic Planning Models Like the BCG

question 10

True/False

Many companies have dropped formal strategic planning models like the BCG because they can be difficult, time consuming, and costly to implement.

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Definitions:

Breakdown Maintenance

A maintenance strategy that involves repairing or replacing equipment and components only after they have failed.

Emergency Maintenance

Unscheduled repair work performed on equipment or systems to correct an unforeseen failure or fault.

Preventive Maintenance Program

A schedule of planned maintenance actions aimed at preventing breakdowns and failures of equipment before they occur.

Cost Effective

Cost-effective refers to an action that provides the best possible outcome for the least amount of money, maximizing the benefits relative to its costs.