The Technique Recommended by the Text to Organize an Analysis

question 97

Multiple Choice

The technique recommended by the text to organize an analysis of external strategic factors is called

• A) IFAS.
• B) EFAS.
• C) SFAS.
• D) SWOT.
• E) the issues priority matrix.

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Definitions:

Total Revenue

The entire amount of income generated by the sale of goods or services before any expenses are subtracted.

Maximizing Profit

The process of increasing the difference between total revenues and total costs to achieve the highest possible financial gain.

Minimum Wage

The lowest legal hourly pay that employers can offer to workers, set by government policy to protect worker's living standards.

Real Hourly Earnings

Refer to the purchasing power of an hour's work, adjusted for inflation, indicating the real value of wages over time.