Strategy Refers to

question 55

Multiple Choice

Strategy refers to

• A) an organization's long-term course of action designed to deliver a unique customer experience while achieving its goals.
• B) an organization's corporate tactical or action plan.
• C) statement of an accomplishment of a task to be achieved by a certain time.
• D) a statement of the organization's function in society, often identifying its customers, markets, product, and technologies.
• E) a road map for the entire organization for a specified future period of time, such as one or five years.

---

Definitions:

Credit Extension

Credit extension is the process by which a lender provides funds or permits a borrower to purchase goods or services now with the promise to pay in the future.

Receivables Financing

A type of financing where a company uses its accounts receivable as collateral for a loan.

Carrying Cost

The total cost of holding inventory, including storage, insurance, taxes, depreciation, and opportunity costs.

Economic Order Quantity

A formula used in inventory management to determine the optimal order size that minimizes total costs related to acquiring, holding, and replenishing inventory.