A General Guide to Action for the Managers of an Organization

question 53

Multiple Choice

A general guide to action for the managers of an organization is known as a

• A)rolling plan.
• B)rule.
• C)policy.
• D)standard operating procedure.

---

Definitions:

Anticipated Profits

Expected financial gains based on projected business activities, market conditions, and strategies, before they are actually realized.

Marginal Benefit

The surplus benefit or joy experienced upon consuming an additional unit of a good or service.

Expected Profit

The anticipated return on an investment or business venture after considering all relevant costs and revenues.

Optimal R&D

The most efficient level of investment in research and development activities that maximizes the benefits from new knowledge and products.