The Process of Determining an Organization's Basic Mission and Long-Term

question 6

Multiple Choice

The process of determining an organization's basic mission and long-term objectives and then implementing a plan of action for attaining these goals is:

• A)Strategic management
• B)Tactical management
• C)Contingency management
• D)Functional management

Recognize the importance of strategic options and contingency planning in business scenarios.

Understand the concept of operating leverage and its effect on business risk.

Learn about the implications of forecasting risk and how it impacts business valuation and decision-making.

Understand the basic principles of genetics and the definition of terms such as alleles and heterozygous.

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Definitions:

Holder

Any person in the possession of an instrument drawn, issued, or indorsed to him or her, to his or her order, to bearer, or in blank.

Promise

A person’s assurance that he or she will or will not do something.

Express Condition

A clearly stated stipulation in a contract that specifies an event or action that must occur for the contract to be fulfilled.

Payment

The transfer of money, goods, or services in exchange for a product, service, or obligation.