Demographic, Economic, Political/legal, Sociocultural, Technological, and Global Are the Six

question 73

True/False

Demographic, economic, political/legal, sociocultural, technological, and global are the six elements comprising the industry environment.

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Definitions:

Budget Goals

Financial targets that an organization aims to achieve within a specific period to manage resources effectively.

Continuous Budgeting

A financial planning approach where budgets are continuously updated and extended by adding a new period as the current period is completed.

Senior Management

Refers to the highest level of managerial personnel who are responsible for the strategic direction and overall operations of an organization.

Past Performance

This term refers to the historical results or achievements of an individual or organization, often used as an indicator for future success.