A Reason New Venture Managers Lack Knowledge in the Strategic

question 19

Multiple Choice

A reason new venture managers lack knowledge in the strategic planning process is because

• A)they refuse to learn new things.
• B)they have minimal exposure to the planning process.
• C)they attempt to implement actions too quickly.
• D)they are overconfident.

---

Definitions:

Work in Process Inventory

The value of materials and products that are partially completed in the manufacturing process.

Overapplied Manufacturing Overhead

A scenario in which the assigned costs for manufacturing overhead are greater than the overhead expenses actually encountered.

Cost of Goods Sold

This is the direct costs attributable to the production of the goods sold in a company, including both materials and labor costs.

Adjusted Cost

The cost that has been modified for adjustments like discounts, returns, or additional charges to reflect the true cost of purchase or production.