Which of the Following Statements Is True About the Strategic

question 99

Multiple Choice

Which of the following statements is true about the strategic plan?

• A)It is management's vision of what they desire the organization to achieve over the long term.
• B)It is created by employees of a company and shared with management for execution.
• C)It is management's vision of individual professional development goals over the long term.
• D)It is created as a thought exercise for long-term planning purposes,but it does not relate to daily activities.

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Definitions:

Supply Curve

A graphical representation that shows the relationship between the price of a good and the quantity of the good that suppliers are willing and able to produce and sell.

Total Variable Costs

The overall expense that changes in proportion to the level of output or production activity.

Output

The total amount of goods or services produced by a company, industry, or economy within a specific period.

Supply Curve

A graphical representation showing the relationship between the price of a good or service and the quantity of that good or service that a supplier is willing and able to supply.