Which of the Following Is a Defining Characteristic of Operational

question 11

Multiple Choice

Which of the following is a defining characteristic of operational planning?

• A) Operational planning is ideally done by the CEO and other top managers.
• B) The scope of operational planning includes stating objectives for the organization as a whole.
• C) Typically, operational planning is done when the original plan fails to materialize.
• D) Operational planning is usually short-term, with a time frame of one year or less.

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Definitions:

Optimal Consumption Rule

The principle that consumers maximize their utility when the ratio of the marginal utility to the price of goods is equal across all goods.

Maximizing Utility

The process by which individuals allocate their resources to obtain the highest possible level of satisfaction.

Income

The amount of money received by an individual or entity in exchange for labor, services, or investment within a specific period.

Concert Tickets

Access passes purchased by individuals to attend live performances of music or other entertainment events.