The Process of Determining an Organization's Basic Mission and Long-Term

question 6

Multiple Choice

The process of determining an organization's basic mission and long-term objectives and then implementing a plan of action for attaining these goals is:

• A)Strategic management
• B)Tactical management
• C)Contingency management
• D)Functional management

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Definitions:

Total Assets

The sum of all resources owned by an entity that are expected to provide future economic benefits.

Cash Paid

The total amount of money disbursed by a company in transactions, such as paying bills, salaries, or purchasing goods.

Interest

The charge for borrowing money, typically expressed as a percentage of the amount borrowed, paid by the borrower to the lender.