In the 2,500-year-old text the art of war, chinese general sun tzu argues that "stratergy" and "planning" are key components of strategic planning.
<h3>What is strategic planning?</h3>
Strategic planning is the art of developing specific business strategies, putting them into action, and analyzing the results in relation to a company's overall long-term objectives or desires.
Some key features of strategic planning are-
- It is an idea that concentrates on incorporating different departments within a company (such as finance and accounting, marketing, & human resources) to achieve strategic goals.
- Strategic planning and strategic management are essentially interchangeable terms.
- The idea of strategic planning first gained popularity in the 1950s & 1960s, and it remained popular in the corporate world until the 1980s, when it began to fade.
- However, interest in business strategy was reignited in the 1990s, and strategic planning is still important in today's business.
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Answer:
the lump sum that would equal the present value of the annual installments is $38,163,612
Explanation:
The computation of the lumspum amount is as follows;
= Cash flow × (1 - (1 + rate of interest)^-number of years) ÷ rate of interest)
= $89 million × (1 - (1 + 0.0765)^-26) ÷ 0.0765)
= $38,163,612
Hence, the lump sum that would equal the present value of the annual installments is $38,163,612
Therefore the above is calculated by applying the given formula
A critical trade-off which must be considered when choosing a forecasting technique is that between: C. cost and accuracy.
<h3>What is a
forecasting technique?</h3>
A forecasting technique can be defined as a process through which predictions can be made about the economy, especially based on macroeconomic and microeconomic conditions such as:
In Economics, cost and accuracy is a critical trade-off which must be considered when choosing a forecasting technique.
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Answer:
Estimated manufacturing overhead rate= $30.5 per direct labor hour
Explanation:
Giving the following information:
Direct labor-hours= 79,000 labor-hours.
The estimated variable manufacturing overhead was $11.90 per labor-hour and the estimated total fixed manufacturing overhead was $1,469,400.
To calculate the predetermined manufacturing overhead rate we need to use the following formula:
Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Estimated manufacturing overhead rate= (1,469,400/79,000) + 11.9= $30.5 per direct labor hour
Test retest reliability
The performance management,term refers to a measure that obtains consistency of results over time.
It also carries the idea of performance appraisal through which more work can be achieved by rewarding the personnel who achieve their targets on time and show their results.
It helps optimize the performance to obtain consistency over the time with providing feedback and improvement in the performance. Psychometrics tests and evaluation test are used for improvement of employee performance. Several policies and procedures are also implemented for their welfare.
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