Once Managers Have Completed Their Analysis of the Strengths,weaknesses,opportunities,and Threats

question 145

Multiple Choice

Once managers have completed their analysis of the strengths,weaknesses,opportunities,and threats facing the organization,they can proceed to the next step of the strategic management process,which is to ________.

• A)identify competitors
• B)identify the organization's current mission,goals,and strategy
• C)formulate strategies
• D)identify environmental trends

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Definitions:

Total Variable Cost

The aggregate of all variable costs that are incurred for a particular level of output or production.

Total Annual Fixed Costs

The sum of all business expenses that are constant and do not change with the level of production within the year.

Profit Maximising Model

A theoretical framework or strategy aimed at increasing a firm’s profits to the highest possible level.

Marginal Revenue

The additional income generated from selling one more unit of a product or service.