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What is Strategic Planning A management tool used to guide an organization's decisions and actionsin response to a constantly changing business environment. Strategic planning is a disciplined effort that helps managers focus on what they should do, why they should do it, and how they can successfully continue to do it. Steps in the formal planning process 1. Situational Analysis 2. Alternative Goals and Plans 3. Goal and Plan Evaluation 4. Goal and Plan Selection 5. Implementation...

Test Prep - WGU - Principles of Management - C483 | REVISED EDITION | LATEST 2024/25

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Delivery of products or services - A value chain is the sequence of activities that begins with raw materials. What result does a value chain end with? Choose 1 answer Supply and demand Operations and logistics Outsourcing or insourcing Delivery of products or services Profit margins are increased. - What happens when an effective value chain is created? Choose 1 answer Profit margins are increased. A mission statement is developed. Customized products are standardized. Total qualit...

Delivery of products or services - A value chain is the sequence of activities that begins with raw materials. What result does a value chain end with? Choose 1 answer Supply and demand Operations and logistics Outsourcing or insourcing Delivery of products or services Profit margins are increased. - What happens when an effective value chain is created? Choose 1 answer Profit margins are increased. A mission statement is developed. Customized products are standardized. Total qualit...

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Test Prep - WGU - Principles of Management - C483 (A+ GRADED VERIFIED 100%) 2023/2024