If We Are Going to Predict Future Performance on the Basis

question 51

Multiple Choice

If we are going to predict future performance on the basis of a sample mean and sample standard deviation,it is desirable to have a

• A)small mean.
• B)small standard deviation.
• C)large mean.
• D)large standard deviation.

Understand the components and purposes of different types of business plans (operational, strategic, budgeting, and forecasting).

Distinguish between the roles of budgeting and forecasting in business planning.

Recognize the audiences for business plans and their expectations.

Identify and evaluate the elements crucial for the success of business plans in competitive environments.

---

Definitions:

Fast-Growth Companies

Businesses characterized by rapid expansion in revenue, size, or market share over a short period.

Successful Online Business

An internet-based enterprise that achieves its objectives such as profit generation, customer satisfaction, and sustained growth.

Secretary of State

A high-ranking official in the government responsible for the foreign affairs portfolio or the management of certain domestic administrative tasks in some countries.

Ideas for New Businesses

Innovative concepts or suggestions for starting new enterprises that can fill a niche, solve a problem, or cater to a specific demand in the market.