Which of the Following Is the Best Example of a Well-Stated

question 48

Multiple Choice

Which of the following is the best example of a well-stated strategic objective?

• A) Increase revenues by more than the industry average.
• B) Be among the top five companies in the industry in customer service.
• C) Overtake key competitors on product performance or quality within three years.
• D) Improve manufacturing performance by 5 percent within 12 months.
• E) Obtain 150 new customers during the current fiscal year.

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Definitions:

Labor Unions

Labor unions are organizations that represent workers in negotiations with employers regarding wages, working conditions, and benefits.

Cartels

An association of manufacturers or suppliers with the purpose of maintaining prices at a high level and restricting competition.

Non-Unionized Industries

Sectors of the economy where labor unions do not represent the workforce, often resulting in different labor standards and wages.

Minimum Wage

The lowest hourly, daily, or monthly remuneration that employers may legally pay to workers.