Action Plans Are Important for Several Reasons

question 46

Multiple Choice

Action plans are important for several reasons.Which one of the following is not one of these reasons?

• A) If the action plan is implemented properly, it ensures that the strategy will be a success.
• B) It serves as a link between strategy formulation and evaluation and control.
• C) The action plan specifies what needs to be done differently from the way operations are currently carried out.
• D) During the evaluation and control process, an action plan helps in the appraisal of the performance and identifying remedial actions needed.
• E) Motivation may be improved with the assignment of specific responsibility.

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Definitions:

Trade Restrictions

Measures implemented by a government to control or limit the import and/or export of goods and services, often to protect domestic industries.

Budget Deficit

The financial situation where a government's expenditures exceed its revenue over a specified period, leading to borrowing or the use of reserves.

Exchange Rates

The price of one currency expressed in terms of another, determining how much foreign currency can be obtained with a unit of domestic currency.

Transaction Categories

Transaction categories are classifications of financial transactions based on their nature, such as income, expenses, transfers, and investments, to help in managing finance.