What is the difference between strategic planning and operational planning?
A. Strategic plans are for one year or less and have very specific objectives, while operational plans are more vague and long-term.
B. Strategic planning covers the short-term day-to-day workings of a business, while operational planning sets out long-term goals.
C. Strategic planning sets out strategies for the business to achieve long-term growth and other goals, while operational planning covers the day-to-day operations of the business.
D. Strategic planning is reserved for middle management in large companies.
Answer: C
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Gross profit margin is an important ratio of merchandising firms because:
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An appliance store is having an early Saturday morning sale. Purchases must be made between 7 a.m. and 11 a.m. before the prices of the sale items go up 15 percent
The store advertisement concerning this sale notes that there are no guarantees or warranties that will accompany products being sold at the low sale price. Identify and explain the sales approach being implemented by this store regarding this sale.
Mark, who recently won a lottery, tells Sean that he will split his lottery winnings with him if Sean can arrange Mark's interview with his boss. Sean talks to his boss and the meeting is arranged
But when Sean goes to collect half of Mark's lottery winnings, Mark refuses to pay. What is the act of consideration in this scenario? A) Mark telling Sean he will split his lottery winnings with him B) Sean arranging the interview C) Mark going for the interview D) Sean asking for half of the lottery winnings
In unaided recall posttesting, respondents are shown the actual advertisement and are asked whether they recognize it.
Answer the following statement true (T) or false (F)