Contingency Plans Describe Actions to Be Taken If Specific Threats

question 12

True/False

Contingency plans describe actions to be taken if specific threats or opportunities materialize during the planning period.

Identify the roles and criticisms of multinational corporations (MNCs) in the global economy.

Understand the mechanisms of international trade and its regulation.

Explain the significance of consumer rights and ethical consumerism in global markets.

Recognize the importance of ethical standards in global business, including human rights and labor practices.

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Definitions:

Gross Profit

The difference between sales and the cost of goods sold, representing the fundamental earning efficiency of a company's core activities.

Payroll Expense

The total amount of money a business pays to its employees as wages or salaries, including taxes and benefits, for a specific period.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold in a company.

Rate of Return on Investment

A measure of the profitability or efficiency of an investment, calculated as the ratio of net profits to the initial cost of the investment.