Organizational Planning That Includes the Establishment of Overall Goals and Positioning

question 21

Multiple Choice

Organizational planning that includes the establishment of overall goals and positioning an organization's products or services against the competition is referred to as ________.

• A)short-term planning
• B)strategic planning
• C)long-term planning
• D)tactical planning
• E)organizational planning

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Definitions:

Direct Labor

The cost of labor that is directly involved in the production of goods, easily traceable to a product.

Direct Materials

The raw materials that can be directly attributed to the production of specific goods or services.

Incremental Revenues

The additional income generated from a new product or service or as a result of making changes to an existing operation.

Fixed Overhead

Regular, predictable costs that do not vary with the level of production or sales, such as rent, salaries, and insurance.