The Reference Line May Include the Case Name and Number

question 30

True/False

The reference line may include the case name and number if the correspondence concerns a pending lawsuit.

Understand the concept and importance of planning in organizations.

Identify different types of planning, including strategic, tactical, contingency, and participatory planning.

Describe the role and characteristics of management by objectives (MBO).

Recognize the importance and process of scenario planning and benchmarking.

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Definitions:

Potential Downsizing

The possibility of reducing the size of a company's workforce to cut costs or improve efficiency.

Effective Restructuring

Entails making significant organizational changes that aim to improve efficiency, reduce costs, or better align the business structure with its strategic objectives.

Outsourcing

The act of hiring third-party vendors to perform services or create goods that traditionally were performed in-house, as a strategy to focus on core business activities.

Rightsizing

The process of adjusting a company's workforce to its optimal size, often involving layoffs or restructuring.