Define and Briefly Explain What Is Meant by Each of the Following

question 28

Essay

Define and briefly explain what is meant by each of the following terms. a) strategic vision
b) stretch objectives
c) strategic objective
d) balanced scorecard
e) strategic intent

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Definitions:

Finished Goods

Manufactured items that are completed and ready for sale but have not yet been sold to customers.

Raw Materials

Primary components or substances used in the production of goods.

Direct Materials

Raw materials that are directly traceable to the manufacturing of a product and are a significant component of finished goods.

Work in Process Inventory

Work in process inventory includes partially completed goods that are still in the production process at the end of a period.