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:

Constraints

limitations or restrictions in a process, project, or system that affect its performance, output, or capability to achieve goals.

LP

Stands for Linear Programming, a mathematical technique for optimizing resources and outcomes within given constraints.

Minimizing Distance

involves finding the shortest path or least total distance in routing, networking, or logistical planning to optimize efficiency.

Labour Costs

The total expenditure incurred by employers for the payment of wages, benefits, and taxes associated with the employment of labor.