Which Is True About Levels of Planning

question 7

Multiple Choice

Which is true about levels of planning?

• A) Top management planners in a large organization make long-range strategic plans.
• B) Top management should be looking at a one- and two-year horizon and deciding where the organization should be heading over that time span.
• C) Top management implements the organization's long-term goals on a smaller level and within shorter time frames.
• D) Both a and b
• E) All of the above.

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Definitions:

Total Economic Cost

The sum of explicit and implicit costs associated with a business activity or decision, considering both direct financial outlays and opportunity costs.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision.

Production

The process of creating goods or services by combining labor, materials, and capital.

Technological Improvement

The advancement or enhancement of technology, leading to increased efficiency, productivity, or quality in processes or products.