A person uses strategic thinking as a mental or intellectual strategy to accomplish a goal or set of goals. It causes thought since it is a cognitive activity.
Why long-term perspective is important for strategic thinking?
Long-term in strategic thinking is defined as more than five years. Most strategic plans have a three to five-year time horizon. Tracking your progress toward goals may be made possible by having a strategic strategy in place. The success of your firm may be directly impacted by each department's and team's development when they are aware of the overall plan of the business, resulting in a top-down approach to measuring key performance indicators (KPIs).
Long-term goals are things you desire to accomplish in the months or years to come. This kind of goal-setting gives your job meaning, improves your decision-making, and provides plenty of everyday drive. In this post, we provide examples to help you understand how to employ long-term objectives to achieve significant things over time.
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B. You can get it at a bargain price.
C. The previous owner will help fund the business.
D. You don't need to do any more advertising.
Answer:
A. It's track record lets you know what to expect.
Explanation:
a basic savings account
a money market
a savings account at a credit union
B) upward communication
C) horizontal communication
D) informal communication
Answer:
B) upward communication
Explanation:
Upward communication is communication from an employee in lower level of hierarchy to an employee in a higher level of organisational hierarchy.
Jonah sent a mail to the head of his department. This is an example of upward communication. Jonah engaged in formal communication.
Downward communication is communication from someone higher in organisational hierarchy to an employee lower on organisational hierarchy.
Horizontal communication is communication between employees on the same hierarchy in an organisation.
effective and efficient operations.
compliance with applicable laws and regulations.
Internal control is designed to ensure all of the items described in the answers.
Answer:
Internal Control is designed to ensure all of the items described in the answer.
Explanation:
Internal control refers to the control measures adopted by an entity so as to ensure compliance with legal framework, check frauds and errors and for reliable financial reporting.
Compliance procedures are the processes designed to check whether internal controls exist in an organization and if they do, whether such controls are operating effectively.
For e.g biometric authentication with regard to attendance keeps a check on the number of employees actually working during a period and eliminates the possibility of dummy names in the attendance records. This is an example of internal control i.e control measures created by organization itself.
Internal control in a business context refers to the procedures set in place to ensure reliable financial reporting, efficient operations, and compliance with laws and regulations. These controls help in the smooth running of the business, providing accurate financial information, and abiding by legal requirements.
Internal control is a crucial concept in the domain of accounting and business. It refers to the procedures and methods implemented by a company to ensure the achievement of its objectives, which include - reliable financial reporting, efficient and effective operations, and compliance with relevant laws and regulations.
The procedures for reliable financial reporting involve making sure that financial records are accurate and complete. This is important for both internal decision-making and for providing trustworthy information to investors, creditors, and regulators.
Efficient and effective operations refer to the smooth running of the business without wastage of resources, while maximizing profits. Finally, compliance with laws and regulations refers to abiding by the legal and regulatory requirements imposed by government bodies and agencies on businesses.
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Answer:
C. I and II are both true.
Explanation:
Statement 1 states that if there is only one variable factor let us assume that is labor, accordingly it changes in total when there is change in output level, but that the change in per unit cost is NIL in variable terms and marginal terms.
Thus, this will result in constant marginal cost.
Statement 2 states that with all things similar to statement 1 the short run average total cost shall not increase, this is also correct as since the marginal product is constant, the average cost tends to decrease and cannot rise in any manner, even with the increase in output until the marginal cost increases.
The correct answer for the question that is being presented above is this one: "P = $65 and Q = 150." Consider a perfectly competitive market described by the supply function P = 20 + 0.1Q and demand function P = 80 - 0.3Q.