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The Technique That Illustrates How Management Can Match the External

question 97

Multiple Choice

The technique that illustrates how management can match the external opportunities and threats with its strengths and weaknesses to yield four sets of strategic alternatives is called a(n)


Definitions:

Measures Performance

The process of evaluating the efficiency and effectiveness of actions or operations, typically through quantitative metrics.

Flexible Budget

A budget that is stated as a function of some volume measure, such as units produced. Flexible budgets adjust for changes in volume.

Master Budget

A document that integrates all the estimates from the different departments to establish guidelines and benchmarks for the whole organization.

Favorable Variance

A financial term indicating that actual spending was less than budgeted amounts, or revenue was higher than expected.

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