The IT Planning Process Results in a Formal IT Strategy

question 42

True/False

The IT planning process results in a formal IT strategy or a re-assessment each year or each quarter of the existing portfolio of IT resources.

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Definitions:

Firm's Profitability

a measure of how effectively a company generates profit compared to its revenues, indicating its financial health and sustainability.

Different Industries

Various sectors of the economy that produce different types of goods and services, such as manufacturing, technology, and healthcare.

Higher Profits

The increased financial gain achieved by a business when its revenue exceeds its expenses by a greater margin than before.

Costs

Costs refer to the amount of money required for the production of goods or services, including expenses related to labor, materials, and overheads.