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The Board Met and Agreed to Some Changes in Operating

question 61

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The Board met and agreed to some changes in operating procedures and performance benchmarks.This new policy must now be communicated to their subordinates and disseminated throughout the company.What kind of communication is involved when information flows from those higher up in an organization to those of lower rank?


Definitions:

Quantitative Forecasting

The use of numerical data and statistical models to predict future events or trends.

Qualitative Forecasting

A forecasting method that relies on expert judgment and historical data analysis rather than quantifiable metrics, often used when precise data is unavailable.

Expert Opinions

Insights and assessments provided by individuals with extensive knowledge and experience in a specific field.

Internal Benchmarking

The process of comparing business processes and performance metrics to industry bests or best practices within the same organization.

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