In the Creation of a Strategic Plan, It Is Helpful

question 25

Multiple Choice

In the creation of a strategic plan, it is helpful to make a list of:

• A) Staff on duty.
• B) Competitors.
• C) Charitable organizations.
• D) None of the above.

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Definitions:

Liquidated Damages

Pre-determined damages specified in a contract that the parties agree on as compensation if one party breaches the contract.

Option To Terminate

A provision in a contract that allows one or more parties to end the agreement under certain conditions, before the completion date.

Force Majeure

A major, unforeseen, or unanticipated event that occurs and prevents the performance of a contract.

Frustrated Contracts Act

Legislation that deals with contracts that, through no fault of either party, cannot be fulfilled due to unforeseen events.