Overall purpose of strategic management is to gain competitive advantage over competitors. Strategic management can be the key to delivering a stable bottom line in a marketplace where workplaces are constantly being disrupted by technology innovation. Creating a strategic vision necessitates knowledge of global trends, the competitive landscape, and stakeholder expectations.
Company executives who understand their own company's products or services as well as what their big competitors will do next can forecast and make timely business actions. It also means that they can plan for future possibilities and hazards. Strategic decisions and strategic management can help organizations improve their long-term competitive position.
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Answer: is developed after considering possible events.
Explanation:
A contingency plan is a plan made by an organization where they prepare for the worst possible outcome from a current event. A contingency plan is formed after considering various outcomes that can occur and preparing for the worst possible case scenario. A contingency plan helps a company to be prepared for any outcome positive or negative.
Answer:
$82,400
Explanation:
Cost of goods sold = beginning merchandise inventory + purchases - ending merchandise inventory.
$69,200 = $15,600 + purchases - $28,800
Purchases = $82,400
Answer:
A.
0.833
Explanation:
m = 3
Arrival rate, ra = 45 per hour
Service rate, re = 18 per hour per lane
Utilization factor = ra/(m.re)
= 45/(3*18)
= 0.833
Therefore, The utilization factor of the system is 0.833
