Answer:
This situation means that resources were not being efficiently used.
If society managed to produce 1 more unit of X with the same resources and technology, this means that some resources were idle in the past, which causes inefficiency.
This also means that the combination 3 units of X and 4 units of Y is a point inside the PPF. However, we do not know if the combination 4 units of X and 4 units of Y is a point inside the PPF, or on the PPF, because there could be some other combination that could be even more efficient (for example 5 units of both X and Y with the same resources and technology).
Answer: Business
Explanation: In simple words, business refers to a group of activities that an individual performs, by taking calculated risk, for the ultimate purpose of making profit.
In the given case, Marcia Simpson is starting the new academy to target wealthy corporate employees.
Hence we can conclude that she is willing to start a business.
c) <em>Project management Software is only useful with a knowledgeable operator.</em>
Explanation:
Project management software are assisting software that need a pre-educated person to understand how it works, thus is the operator already has knowledge in project management it will assist him/her in making decisions and tracking progress thus useful.
Answer:
The correct answer is C. crafting the organization’s mission statement.
Explanation:
What is strategic management?
strategic management involves developing a plan of action designed to achieve a long-term or overall aim. It is the process of developing strategic vision, setting out goals and objectives, formulating and implementing plan of actions and introducing corrective measures for the deviations to achive organisation planned goals.
The first stage of a strategic management is defining of strategic intent of the organisation and the strategic intents include :establishing vision, designing mission
, setting objectives that will serve as a guide toward the achievement of the organisation stated objectives.
