Strategic Goals Can Be Accomplished Through Defining an Action Plan

question 24

Multiple Choice

Strategic goals can be accomplished through defining an action plan. Which one of the following is NOT one of the components which make up an action plan?

• A) the specific actions to be taken
• B) who will perform the action
• C) during what time frame the action will be completed
• D) where the action will be done
• E) what are the expected results of the action

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Definitions:

Average Variable Cost

The per-unit variable cost of production, calculated by dividing total variable costs by the quantity of output produced.

Long-Run Scale

Refers to the time period in which all factors of production and costs are variable, allowing companies to adjust all inputs in response to market conditions.

Short-Run

A period in which at least one input is fixed, limiting the firm's capacity to adjust to changes in demand or market conditions.

Positive Profits

Financial gains that are greater than zero, indicating a company's revenues exceed its costs and expenses.