Goals That Define the Finer Outcomes That Major Divisions and Departments

question 52

Multiple Choice

Goals that define the finer outcomes that major divisions and departments must achieve for the organization to reach its overall goals are called:

• A) strategic goals.
• B) tactical goals.
• C) operational goals.
• D) Gantt charts.
• E) contingency plans.

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Definitions:

Maximize Profit

The process or strategy of adjusting the production and sales operations of a company to generate the highest possible return or profit.

Marginal Revenue

The incremental income obtained from the sale of one extra unit of a product or service.

Maximize Profit

The process of adjusting inputs and outputs in order to achieve the highest possible return on investment.

Total Revenue

The total income generated by a firm from its sales activity, calculated as the unit price of a good times the quantity of goods sold.