A _____ Might Include a Definition of Products and Services

question 26

Multiple Choice

A _____ might include a definition of products and services an organization provides,technologies used to provide these products and services,types of markets,important customer needs,and distinctive competencies or the expertise that sets the firm apart from others.

• A)strategy roadmap
• B)mission statement
• C)value statement
• D)leadership statement

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Definitions:

Variable Costs

Expenses that vary in relation to the amount of production or business activity.

Fixed Costs

Costs that do not change with the level of output produced, such as rent and salaries.

Break-Even Point

The financial analysis term where total costs and total revenues are equal, resulting in no net loss or gain for the business.

Contribution Margin

Contribution margin is the amount remaining from sales revenue after variable expenses are deducted, showing how much contributes to covering fixed costs and profit.