Strategic Planning Is Best Defined as

question 13

Multiple Choice

Strategic planning is best defined as

• A)The development of a relatively long?term mission consistent with internal tactics.
• B)The development of relatively short?term objectives that meet the executive committee objectives.
• C)A process for determining how best to pursue the organization's mission while meeting the demands of the environment.
• D)The development of values and ideals of the organization relevant to long-term objectives.

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Definitions:

Perfect Market

An idealized market where all participants have equal access to information, there are no transaction costs, and buyers and sellers are too numerous to affect prices.

Utility Function

An economic model that represents a consumer's preference ranking over a set of goods or outcomes, used to analyze choice and behavior.

Double-Time

A term typically used in payroll to describe a rate of pay that is twice the employee's normal wage rate, often applied to overtime work.

Utility Function

A mathematical representation in economics of a consumer's preference ranking over a set of goods or outcomes, used to analyze choices and behavior.