8:21A elearning.act.edu.omQuestion 4IncorrectMark 0.00 out of 1.00P Flag questionPlan that establishes a required method ofhandling future activities is called:a. Procedures.b. Policy.c. Methods.O d. Rules.The correct answer is: Procedures.Question 5IncorrectMark 0.00 out of 1.00P Flag questionWhy we need plans?O a. To deal with foreseen problemsO b All the provided choicesII 8:21A elearning.act.edu.omThe correct answer is: Contingency planQuestion 2IncorrectMark 0.00 out of 1.00P Flag questionMr. Rick is Marketing manager of the companyhe is making the plans for his marketing sectionto achieve 35 Percent market share. what doyou feel which among the following is suitablefor him?O a. Operational planO b. Contingency planO c. Strategic planO d. Tactical planThe correct answer is: Operational planQuestion 3CorrectMark 1.00 out of 1.00II

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Plan that establishes a required method of handling future activities is called: O a. Procedures. O b. Policy. c. Methods. d. Rules.

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Concept explainers

Forecasting

Forecasting is a methodology that uses historical data as inputs to make well-informed predictions about the course of future trends. Forecasting is the method of making forecasts based on historical and current data, most commonly by trend analysis. In the business world, forecasting is a basic statistical task. Forecasting is used by businesses to decide how to allocate their budgets or prepare for expected expenditures in the future. Forecasts help managers formulate and execute production plans by providing forecasts. The primary goal of forecasting is to make accurate predictions.

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