Managers Should Make Operational Decisions

question 54

Multiple Choice

Managers should make operational decisions

• A) within the guidelines set down during strategy planning.
• B) with great care as these decisions are the same as strategic decisions.
• C) for the long-run to help formulate strategic plans.
• D) keeping in mind that these decisions should always lead to changes in the basic strategy.
• E) on a month-to-month basis and never daily or weekly.

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Definitions:

Production Possibilities Frontier

A chart outlining the utmost production options for two commodities, considering a fixed amount of resources and additional elements.

Global Economy

The interconnected economies of the world's nations, influenced by global trade and investment.

Production Possibilities

Production possibilities depict the different combinations of goods and services that an economy can produce, given its available resources and technology, demonstrating the trade-offs and opportunity costs involved in production choices.

Unemployment Rate

The percentage of people in employment sectors who are unemployed and searching for jobs.