IT Strategic Plans Must Also Entertain External Factors Such as Industry

question 20

True/False

IT strategic plans must also entertain external factors such as industry trends, the competitive landscape, and vendor strategies and offerings.

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Definitions:

Factory Overhead Cost

The indirect expenses related to the manufacturing process, including utilities, depreciation, and maintenance of equipment.

Direct Labor Cost

The expense associated with employees directly involved in the production of a company's products, reflecting wages for tasks that are integral to manufacturing.

Conversion Cost

The combined costs of direct labor and manufacturing overhead, reflecting the expenses to convert raw materials into finished goods.

Factory Overhead Cost

Indirect costs associated with manufacturing, such as utilities, maintenance, and salaries for managers, that cannot be traced directly to specific products.