Strategy Formulation Is the Process of

question 62

Multiple Choice

Strategy formulation is the process of

• A) gaining information about competition and then selecting which information to react to.
• B) choosing among different strategies and altering them to best fit the organization's needs.
• C) strategically controlling your employees' actions.
• D) selecting the employees who best fit the organization.
• E) developing a strong diversity plan.

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Definitions:

Estimated Inventory

Estimated inventory represents a company's approximation or forecast of the inventory it has, which can be used for planning, budgeting, or as part of the inventory valuation process.

Production Budget

A financial plan that estimates the number of units to be produced to meet the sales goals and inventory needs.

Cassette Recorders

Electronic devices used for recording audio onto a magnetic tape housed in a cassette.

Cash Budget

A plan that estimates future cash inflows and outflows over a specific period of time.