The Major Activity in Strategic Planning Is Business Portfolio Analysis

question 98

True/False

The major activity in strategic planning is business portfolio analysis, whereby management evaluates the products and businesses that make up the company.

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Definitions:

JIT Partnerships

refer to collaborations between companies and their suppliers to implement Just-In-Time inventory methods, reducing waste and improving efficiency by receiving goods only as they are needed.

Quality Requirement

Quality requirement refers to the specific criteria that a product or service must meet to satisfy customer needs or industry standards.

Incoming Parts

Components or materials received by a company that are intended for use in the manufacturing process.

Kanban System

A workflow management method originating from Japan, designed to help visualize work, maximize efficiency, and improve agility by using cards to signal the need to move materials or perform tasks.