Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Standard Manufacturing's management team is working on an updated strategic plan. The firm has an 18-month plan to upgrade factory equipment to increase productivity. Standard

Standard Manufacturing's management team is working on an updated strategic plan. The firm has an 18-month plan to upgrade factory equipment to increase productivity. Standard also has a 4-year plan to implement a new product line, which involves the marketing, operation, and planning departments. Which statement is incorrect?

A) The factory upgrade plan is a short-term or operational plan

B) The new product line plan is a medium-term plan

C) A change in current market trends may force Standard to change the product line plan and produce a different product

D) A technological change or advancement should not impact the time frame of a strategic plan

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Modern Advanced Accounting In Canada

Authors: Hilton Murray, Herauf Darrell

9th Edition

1259654699, 978-1259654695

More Books

Students also viewed these Accounting questions