Refer to the Scenario Given to Answer the Following Questions

question 15

Multiple Choice

Refer to the scenario given to answer the following questions.
It's Academic (Scenario)
Rachel is the academic dean for a regional community college. The president has asked her to develop a plan for the college. He wants a plan covering the next five years, and he wants it to be as specific as possible, but not to the extent that it constrains flexibility. In developing the plan, Rachel must address several emerging issues, including advancements in teaching technology, shifting demand for various academic programs, declining student enrolment, and increasing competition from other schools. Despite projections that student enrolment will continue to decline over the next five years, Rachel must ensure that the plan allows the college to meet its employment obligations to tenured faculty who have been offered long-term teaching positions.
-The statement that each store should have sales equal to or greater than $900 per square metre per day is an example of __________.

• A) a standing plan
• B) a directional plan
• C) a goal
• D) management by objectives
• E) flexible goal setting

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Definitions:

Shutting-Down

A short-run decision by a firm to halt production because operating would lead to a loss greater than the fixed costs.

Hostages

Individuals held captive by others as security for the fulfillment of specific conditions or demands.

Trading Partner

An entity or country that engages in commerce or trade with another, often under agreed terms or through treaties.

Held Up

Delayed or stopped by something or someone, causing a pause in progress or movement.