Managers or Teams of Managers at the Lower Levels of an Organization

question 90

True/False

Managers or teams of managers at the lower levels of an organization normally develop strategic plans, but top managers do most of the tactical planning.

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Definitions:

Optimal Resource Allocation

The most efficient distribution of resources in an economy, achieving the best possible balance of production and distribution to meet the needs and wants of the population.

ITQs

Individual Transferable Quotas, a system in resource management where individuals or companies have the right to a portion of the total allowable catch or quota.

Least Costly Way

The most efficient method of achieving a desired outcome or producing a good or service, minimizing expenses while meeting specified objectives.

Economic Efficiency

A condition where resources are allocated in a way that maximizes the net benefit to society.