Closing the Loop in the Area of Business Strategy Means

question 62

Multiple Choice

Closing the loop in the area of business strategy means that:

• A)core competencies at the functional level feed back into the business strategy.
• B)the mission statement is used to develop the business strategy.
• C)the business strategy is translated into operations and supply chain actions.
• D)other functional strategies, such as those of the marketing and finance functions are aligned with the operations and supply chain strategy.

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Definitions:

Outstanding Checks

Checks that have been written and recorded in the issuing entity's records but have not yet been cashed or deposited by the recipient.

Cash Overage

A situation where the actual cash on hand exceeds the expected amount, often due to errors in handling or recording.

Shortage

A situation where the demand for a product or resource exceeds the available supply.

Internal Control

Processes and procedures implemented by an organization to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.