Podcast
Questions and Answers
A ______ statement is the statement of the organization’s core purpose.
A ______ statement is the statement of the organization’s core purpose.
mission
A ______ is the grand plan of any organization wherein the overall objectives are set.
A ______ is the grand plan of any organization wherein the overall objectives are set.
strategic plan
Financial ______ are made to see if the business is feasible, or more importantly, sustainable.
Financial ______ are made to see if the business is feasible, or more importantly, sustainable.
projections
[Blank] objectives are statements which outline the specific goals, in line with the mission, that an organization would like to achieve.
[Blank] objectives are statements which outline the specific goals, in line with the mission, that an organization would like to achieve.
Signup and view all the answers
A company that can cover its current obligation is said to be ______.
A company that can cover its current obligation is said to be ______.
Signup and view all the answers
A ______ statement is a description of what the organization aspires to be in the long term.
A ______ statement is a description of what the organization aspires to be in the long term.
Signup and view all the answers
The corporate strategies are the ______ programs for specific business units, departments, and or cross-functional areas.
The corporate strategies are the ______ programs for specific business units, departments, and or cross-functional areas.
Signup and view all the answers
Departmental plans are specific in terms of ______, the people responsible for carrying out those activities, the timelines, the targets, and the budget for activity.
Departmental plans are specific in terms of ______, the people responsible for carrying out those activities, the timelines, the targets, and the budget for activity.
Signup and view all the answers
SWOT analysis develops a ______ advantage through the creation of a solid strategic plan.
SWOT analysis develops a ______ advantage through the creation of a solid strategic plan.
Signup and view all the answers
The financial forecast is for both ______ and expenses.
The financial forecast is for both ______ and expenses.
Signup and view all the answers
A ______ is a limitation which affects a firm’s position relative to its competitors.
A ______ is a limitation which affects a firm’s position relative to its competitors.
Signup and view all the answers
A financial forecast describes financial outcomes based on what you expect will happen, given current conditions, ______, and intentions.
A financial forecast describes financial outcomes based on what you expect will happen, given current conditions, ______, and intentions.
Signup and view all the answers
The competitive position of the firm in the ______ industry determines sales, investments, and expenses.
The competitive position of the firm in the ______ industry determines sales, investments, and expenses.
Signup and view all the answers
The ______ Labor Budget is an estimate of labor requirements based on production budget.
The ______ Labor Budget is an estimate of labor requirements based on production budget.
Signup and view all the answers
SWOT stands for Strengths, Weaknesses, Opportunities, and ______.
SWOT stands for Strengths, Weaknesses, Opportunities, and ______.
Signup and view all the answers
Financial projections begin with projected ______, which is reflected in the income statement.
Financial projections begin with projected ______, which is reflected in the income statement.
Signup and view all the answers
The ______ Statement of Financial Position contains projected financial elements and assumptions.
The ______ Statement of Financial Position contains projected financial elements and assumptions.
Signup and view all the answers
A ______ is a statement of projected sales, expenses, income, and other financial transactions for the coming period.
A ______ is a statement of projected sales, expenses, income, and other financial transactions for the coming period.
Signup and view all the answers
