Which of the Following Best Describes Lack of Strategy and Strategic

question 78

Multiple Choice

Which of the following best describes lack of strategy and strategic leadership?

• A) Not taking the time to craft a vision and mission, nor to formulate and properly implement a plan
• B) Not having enough funding to maintain operations while still building the business and gaining access to customers and markets
• C) Not having sufficient know-how to run a business in the chosen market or geographical area
• D) Falling prey to the temptations of fraud, deception, and embezzlement
• E) Not having expertise in the essentials of business operations, including finance, purchasing, selling, and production

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Definitions:

Total Manufacturing Costs

The aggregate expenses involved in the manufacture of products, including direct materials, direct labor, and manufacturing overhead.

Work In Process Inventory

Goods partially completed during the manufacturing process; not yet finished products.

Cost of Goods Manufactured

The total production cost of goods completed and transferred out of a manufacturing department during a period.

Manufacturing Costs

Total expenses involved in the production of goods, including labor, materials, and overhead.