A Difference Between Tactical and Strategic Plans Is That

question 53

Multiple Choice

A difference between tactical and strategic plans is that:

• A) tactical plans have a more concrete focus.
• B) tactical plans are set for and by the board of directors.
• C) tactical plans have broader time horizons.
• D) strategic plans are developed by first-line managers.
• E) strategic plans deal with the day-to-day operations of an organization.

---

Definitions:

Consumer Surplus

The difference between the maximum price a consumer is (or consumers are) willing to pay for an additional unit of a product and its market price; the triangular area below the demand curve and above the market price.

Willing To Pay

The maximum amount an individual is prepared to spend to purchase a good or service or to avoid something undesirable.

Moral Hazard

A situation in economics where one party is willing to take risks because the costs that could result will not be borne by that party.

Behavior Alteration

The modification or change in individual or group behaviors, often initiated by interventions or environmental modifications.