List and Explain the Three Levels of Strategy

question 31

Essay

List and explain the three levels of strategy.

---

Definitions:

Short-Term Plan

A strategy or agenda set for a brief period, typically less than a year, focusing on immediate goals and objectives.

Manufacturing Overhead

Indirect costs associated with manufacturing, such as utilities, maintenance, and salaried personnel expenses, which are not directly traceable to a specific product.

Direct Labour

Represents the wages paid to workers directly involved in the production of goods or the provision of services.

Direct Material

The essential components used in the manufacture of a product, directly linked to the production process.