Strategy Can Be Articulated and Communicated in Several Ways

question 22

Multiple Choice

Strategy can be articulated and communicated in several ways:

• A)Vision, Mission, Strategic plans, and Tactical plans
• B)Vision, Business models, Public Relation skills, and Strategic plans
• C)Vision, Mission, Business models, and Plans
• D)Mission, Business models, Strategic plans, and Organizational culture

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Definitions:

Overhead Costs

Overhead costs are the indirect expenses associated with running a business that are not directly tied to a specific product or service, including utilities, rent, and management salaries.

Plantwide Overhead Rate

A single overhead absorption rate used throughout an entire factory or plant to allocate overhead costs to production activities.

Machine Hours

A measure of production time, calculated as the total number of hours machines are operated in the production process.

Overhead Assigned

The process of allocating indirect costs, such as utilities or rent, to specific products or departments within a company.