_____ Planning Means Identifying Those Aspects of a Business That

question 53

Multiple Choice

_____ planning means identifying those aspects of a business that are most likely to be adversely affected by change.

• A)Contingency
• B)Tactical
• C)Opportunity
• D)Seat-of-the-pants

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Definitions:

Operational Plans

Detailed plans formulated by an organization to implement its strategic goals, focusing on short-term actions and resources.

Strategic Plans

Strategic plans are forward-looking documents that outline an organization's goals and the strategies intended to achieve them over a long-term period.

Strategic Objectives

Specific goals set by a business to achieve its long-term vision and mission, guiding its strategic planning.

Flexible Budget

A budget that adjusts or flexes with changes in volume or activity, helping businesses better plan for costs.