Long-Term Oriented Firms Need to Be Aware of Change Drivers

question 34

Essay

Long-term oriented firms need to be aware of change drivers that most likely will have a significant impact on the future of marketing and business in general.What areas of shift do you recommend these firms study?

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Definitions:

Standard

A set of guidelines or principles established as a basis for comparison or measurement in quality assessment, production, and compliance.

Budget

A financial plan for a defined period, outlining an organization's projected revenues, expenses, and capital expenditures.

Standard Costs

Pre-determined or estimated costs of manufacturing, selling, or performing a service under normal conditions.

Management By Exception

A management strategy where only significant deviations from a budget or plan are brought to the attention of management.