Of the Following,which Aspect of Strategic Planning Involves Medium or Short-Term

question 42

Multiple Choice

Of the following,which aspect of strategic planning involves medium or short-term projects to accomplish specific objectives?

• A)Goals and objectives
• B)Functional strategies
• C)Action plans
• D)Forecasts
• E)Mission/vision statements

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Definitions:

Comparative Advantage

The ability of an entity to produce a good or offer a service at a lower opportunity cost than its competitors.

Dumping

The practice of a company selling a product in a foreign market at a price lower than its cost of production or lower than the price in its domestic market.

Diversification

An investment strategy that involves spreading investments among various financial instruments, industries, and other categories to reduce risk.

Protection

Economic policy measures, such as tariffs and quotas, used to limit imports in order to protect domestic industries.