Differentiate between operational plans and strategic plans.
A. Operational plans are made by top managers, while strategic plans are made by middle managers and supervisors.
B. Operational plans are more specific and focus on a shorter time frame, while strategic plans focus on long-term goals for the organization.
C. Operational plans specify the quality of goods or services the organization is to provide, while strategic plans specify how to achieve organizational goals.
D. Operational plans develop objectives for the organization as a whole, while strategic plans develop objectives for a division, department, or work group.
Answer: B
You might also like to view...
A common market goes beyond the removal of internal barriers to trade and the establishment of common external barriers to the important next stage of eliminating the barriers to the flow of factors (labor and capital) within the market
Indicate whether the statement is true or false
The return on assets pricing method
a. has very little appeal and support. b. has a primary objective of earning a minimum rate of return on assets. c. is a crude approach to pricing and should be used as a last resort. d. replaces the desired rate of return used in cost-based pricing methods with a desired profit objective.
Flanders Bar and Grill orders cleaning supply kits using the EOQ model. The restaurant estimates that it uses 525 kits per year. The purchase price per kit is $12 with an estimated carrying cost rate of 15%. The cost to place an order from the kit supplier is $10. What is the optimal EOQ order quantity?
a. 212.5 b. 76.4 c. 525 d. 38.2
. Which of the following is most likely to have a diversified market?
a. a hardward store that sells to contractors and non-professionals b. a dollar store that promotes its low prices c. a pet store that offers both supplies and small animals d. a retail shop that sells goods aimed at expectant mothers and at babies