Operating Plans Are Generally Expressed Through Long-Run Budgets

question 120

True/False

Operating plans are generally expressed through long-run budgets.

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Definitions:

Lower Costs

Reducing expenses associated with business operations, production, or services, often to improve profitability.

Four-Actions Framework

A strategic tool used in blue ocean strategy to redefine market boundaries by looking at ways to eliminate, reduce, raise, and create factors the industry competes on.

Blue Ocean Strategy

A business strategy that focuses on creating new markets and demand, rather than competing in existing markets.