All Firms Need an Organization to Efficiently Implement Their Business

question 17

True/False

All firms need an organization to efficiently implement their business plans and strategies.

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Definitions:

Objectives

Are specific results usually expressed in measurable indices that someone wishes to achieve and may relate to the individual, a group, or the whole organisation.

Operational Plans

Define specific activities to implement strategic plans.

Strategic Plans

Define long-term needs and set action directions for the organization. Tactical plans are developed and used to implement strategic plans.

Financial Plans

Documents that outline an individual's or organization's present financial situation and long-term monetary goals, along with strategies to achieve those goals.