A Purpose of Strategic Objectives Is to Articulate How the Vision

question 24

True/False

A purpose of strategic objectives is to articulate how the vision will be accomplished over an identified time period.

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Definitions:

Capacity Utilization

A measure of how fully an economy's productive capacity is used, typically expressed as a percentage of total potential output.

Production Possibilities Frontier

An economic model that depicts the maximum possible output combinations of two goods or services an economy can achieve when all resources are fully and efficiently utilized.

Full Employment

An economic situation where all available labor resources are being used in the most efficient way possible, typically characterized by low unemployment.

Entrepreneurial Ability

The innovation and risk-taking skills that a person possesses to create and manage a business successfully.