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:

Low Cost

A strategy or pricing model that focuses on maintaining expenses as minimal as possible while still achieving the desired level of quality or service.

Instant Availability

The immediate accessibility of resources or services, often used in context with banking and funding.

Process Cost Accounting

An accounting methodology used for homogenous products that accumulates costs for each process or department and assigns them to units of output.

Factory Overhead

All indirect costs associated with manufacturing, encompassing the expenses incurred in the process of producing goods besides direct materials and direct labor.