A Mental Image of a Possible and Desirable Future State

question 113

Multiple Choice

A mental image of a possible and desirable future state of an organization is called a

• A)mission.
• B)strategy.
• C)goal.
• D)vision.
• E)plan.

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Definitions:

Inventory Control Number

A unique identifier assigned to each item in inventory for the purpose of tracking and management.

Break-even Point

The point at which total costs and total revenue are equal, meaning a business neither makes a profit nor suffers a loss.

Economic Order Quantity

A formula used in operations management for determining the optimal order size that minimizes total inventory costs.

Current Ratio

A financial metric used to assess a company's liquidity by dividing current assets by current liabilities, indicating its ability to pay short-term obligations.