One of the Functions of the Strategic Planning Process Is

question 52

Multiple Choice

One of the functions of the strategic planning process is to

• A) assess the internal and external environment
• B) set the annual budget
• C) prepare for the annual shareholders' meeting
• D) satisfy the shareholders

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Definitions:

Breakeven Point

The point where revenues just equal costs.

Just-In-Time

A manufacturing strategy that aligns raw-material orders with production schedules to minimize inventory costs.

Opportunity Situation

A scenario in which conditions are favorable for achieving a specific goal or for seizing a strategic advantage.

Inventory Turnover

A measure of how frequently a company's inventory is sold and replaced over a specific period.