The Process of Developing Response Formats That Are Very Clear

question 24

True/False

The process of developing response formats that are very clear and that are used identically by the various respondents is called scale development.

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Definitions:

Contingencies

Potential events or conditions that may occur in the future and could impact the financial performance or operations of a business.

Business Plan

A formal written document detailing the goals of a business, the strategy for achieving them, and the timeframe for success.

Planning Horizon

The time a business plan covers. Typically between a few months and five years.

Strategic Planning

Long-term organizational process dedicated to setting goals, defining actions to achieve those goals, and allocating resources to implement the actions.