_____ Includes All Elements Existing Outside the Boundary of the Organization

question 4

Multiple Choice

_____ includes all elements existing outside the boundary of the organization that have the potential to affect the organization.

• A) Organizational environment
• B) Internal environment
• C) Task environment
• D) General environment
• E) Technological environment

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Definitions:

Long-Range Planning

Strategic planning focused on goals and strategies that span over several years into the future.

Budgeting

The process of creating a financial plan to manage revenues, expenses, and resources over a specified period.

Goals and Objectives

Objectives are specific targets within the general framework of the overarching goals, guiding how to achieve broader aims.

Merchandiser Budget

A financial plan created by retailers detailing the forecasted revenues and expenses for a specific period, aiming to manage inventory, sales, and costs efficiently.