The Strategy Implementation Tool Used to Determine What Actions Are

question 7

Multiple Choice

The strategy implementation tool used to determine what actions are going to be taken,by whom,during what time frame,and with what expected results is called a(n)

• A) mission statement.
• B) action plan.
• C) MBO.
• D) TQM.
• E) succession plan.

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Definitions:

Fabricating Department

A division within a manufacturing company dedicated to the construction and assembly of the parts required to produce a finished product.

FIFO Method

An inventory valuation method that assumes that the first items placed in inventory are the first sold, standing for First-In, First-Out.

Equivalent Units

A concept in cost accounting used to convert partially completed goods into an equivalent number of fully completed units for inventory valuation.

Direct Materials

The raw materials used in the manufacturing process that are directly incorporated into the finished product.