Explain how business planning helps managers in a firm
What will be an ideal response?
Business planning is an ongoing process of making decisions that guide the firm both in the short term and for the long haul. Planning identifies and builds on a firm's strengths, and it helps managers at all levels make informed decisions in a changing business environment. Planning means the company develops objectives before it takes action.
You might also like to view...
The first step in the price-setting process is to
A. define the pricing objectives. B. compare alternatives. C. analyze the competitive price environment. D. evaluate demand. E. determine the costs.
The viewpoint that high dividends increase stock values is based on which of the following
principles? A) the agency problem B) time value of money C) risk-return trade-off D) taxes bias business decisions
All of Gaylord Corporation's sales are on account. Thirty-five percent of the sales on account are collected in the month of sale, 45% in the month following sale, and the remainder are collected in the second month following sale. The following are budgeted sales data for the company: JanuaryFebruaryMarchAprilTotal sales$50,000$60,000$40,000$30,000?What is the amount of cash that should be collected in March?
A. $51,000 B. $37,000 C. $41,000 D. $24,000
A seller can breach a sales contract in which of the following ways:
a. the seller repudiates the contract before tendering the goods b. the seller fails to make a scheduled delivery on time c. the seller delivers nonconforming goods d. all of the other specific choices are correct e. none of the other specific choices are correct