A _____ Is a Plan of Action to Improve the Ability

question 29

Multiple Choice

A _____ is a plan of action to improve the ability of each of an organization's departments to perform its task-specific activities in ways that add value to an organization's goods and services.

• A)corporate-level strategy
• B)divisional-level strategy
• C)functional-level strategy
• D)business-level strategy
• E)branch-level strategy

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Definitions:

Operating Cycle

The period it takes for a company to purchase inventory, sell products, and collect cash from customers, reflecting the efficiency of its business operations.

Total Asset Turnover

A financial ratio that measures a company's ability to generate sales from its assets by comparing sales to total assets.

Average Sale Period

The time it takes to convert your inventory into sales, usually expressed in days.

Average Sale Period

The average sale period is the average time taken to convert inventory into sales, often used to assess the efficiency of a business's inventory management.