The Most Complete Description of the Planning Process for a Business

question 50

Multiple Choice

The most complete description of the planning process for a business is:

• A) setting objectives, long-term plans and short-term plans.
• B) setting objectives and short-term plans.
• C) setting objectives and detailed budgets.
• D) setting long-term objectives and long-term plans.

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Definitions:

Dropping Product

The decision to stop manufacturing, selling, or supporting a product, often due to low sales or profitability.

Eliminating Product

The process of discontinuing the production and sale of a product, typically due to poor sales, profitability, or strategic realignment.

Financial Advantage

The benefit gained from making a financially prudent decision that leads to wealth accumulation, cost savings, or any other monetary gain.

Dropping Product

The decision to discontinue the production and sale of a product line or item, typically due to it not meeting financial or strategic goals.