Why Might You Want to Get Board Approval of Your

question 3

Multiple Choice

Why might you want to get Board approval of your Development Plan?

• A) The Board has a responsibility for fundraising
• B) People who are involved in creating something are more likely to be invested in seeing it succeed
• C) To help educate the Board about all the pieces go into fundraising
• D) So the Board is better informed about the allocation of Development staff resources and all of above

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Definitions:

Average Total Costs

The sum of all production expenses (both fixed and variable) divided by the total quantity of units created.

Per-Unit Costs

The cost associated with producing or acquiring a single unit of a product or service.

Competitive Process

The dynamic system in which businesses compete with one another for resources, customers, and market share.

Cost Advantages

Refers to the benefit a company has over its competitors in terms of lower production or operation costs.