When Making Strategic Decision, the Leader Considers

question 7

Multiple Choice

When making strategic decision, the leader considers:

• A) whether a particular choice will have a high or low strategic impact on the business.
• B) whether execution of the decision will be easy or difficult.
• C) both whether a particular choice will have a high or low strategic impact on the businessa and whether execution of the decision will be easy or difficult.
• D) how the choice fits into the heirarchy of needs.

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Definitions:

Significant Variances

Large or important differences between planned and actual performance or costs in a budget, project, or process.

Controlling Actions

Involves monitoring and adjusting strategies to ensure that goals and objectives are met efficiently and effectively.

Labour Efficiency Variance

A measure used in cost accounting to indicate the difference between the actual labor hours used and the standard labor hours planned for the production volume, often reflecting the efficiency of labor used.

Direct Material Price Variance

The difference between the actual cost of direct materials and the planned (or standard) cost, often used for budgeting and cost control.