Which of the Following Is the First Step in Planning

question 34

Multiple Choice

Which of the following is the first step in planning?

• A) Developing a systematic approach to achieve the objective
• B) Implementing the plan
• C) Setting an objective or goal
• D) Monitoring the plan's implementation

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Definitions:

Arbitrage

The simultaneous purchase and sale of the same assets in different markets to profit from unequal prices.

Geographic Boundaries

Demarcated physical limits of geographical areas, which can include country borders, state lines, or natural barriers.

Production Factors

The inputs used in the process of producing goods or services, typically classified as land, labor, and capital.

Globalized Market

A large market created by combining separate national markets.