_____ Integrates Knowledge of the Environment, Vision, and Mission with the Company's

question 53

Short Answer

_____ integrates knowledge of the environment, vision, and mission with the company's core competence in such a way as to attain synergy and create value for customers.

---

Definitions:

Incremental Cost

The additional cost associated with producing one more unit of output, useful for decision-making on production levels.

Opportunity Cost

The evasion of possible gains from diverse options by firmly deciding on one.

Alternative Foregone

The next best choice available to someone who has made a decision, also known as the opportunity cost.

Opportunity Costs

The financial downside to eschewing the next top alternative in the spectrum of choices.