The availability of easy financing in the 1920s allowed regular Americans to buy a wide variety of new consumer items.
What is assembly-line manufacturing?Robotic employees can make up an assembly line as a fast approach to produce vast quantities of things. Assembly lines are frequently used to assemble complicated products such as automobiles, transportation equipment, home appliances, and electronic goods.An assembly line is a production method that divides the creation of a good into steps that are finished in a predetermined order. The most popular technique for producing goods in large quantities is using assembly lines. Since they train unskilled workers to carry out specialized jobs, they lower labor costs.The availability of easy financing in the 1920s allowed regular Americans to buy a wide variety of new consumer items.To learn more about Assembly line refer to:
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_____ is a term used to describe others taking advantage of a user or service without providing any sort of reciprocal benefit.
Free rider problem is a term used to describe others taking advantage of a user or service without providing any sort of reciprocal benefit.
What is a free rider problem in economics?A market failure known as the "free rider dilemma" happens when consumers take advantage of resources, products, or services without paying for them.Resources, goods, or services may be oversupplied if there are too many free riders. The free rider issue can be solved by taking steps to ensure that those who use a public good pay for it.Governmental initiatives, social pressures, and payment collection are examples of such measures—in circumstances when markets have found a method to do so. It describes a scenario in which someone or something is taken advantage of by others without offering anything in return. A person who visits the emergency room without health insurance because they cannot be turned away.When people benefit from resources, commodities, or services but do not pay for them, it is known as the "free rider" dilemma.To learn more about Free rider problem refer
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the triple bottom line approach involves measuring business success of sustainable businesses and sustainable economic development in terms of multiple choice economic, ethical, and environmental sustainability. economic, legal, and environmental sustainability. legal, competitive, and environmental sustainability. economic, legal, and competitive sustainability.
The triple bottom line approach involves measuring business success of sustainable businesses and sustainable economic development in terms of economic, ethical, and environmental sustainability.
A company's long-term progress in terms of its financial, social, and environmental performance is tracked over time by a triple bottom line. TBL may lead to staff retention, an increase in outside investments, a rise in sales from clients with an interest in ESG, and long-term operational efficiency.
According to the triple bottom line (TBL) economic theory, businesses should pledge to give social and environmental issues the same amount of attention as profits. According to TBL theory, there should be three bottom lines: profit, people, and the environment.
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in the basic model with ad and lras curves only, if spending growth is 10% and the solow growth rate falls from 5% to 3%, then inflation will:
In the basic model with an AD and LRAS curve only, if spending growth is 10% and the Solow growth rate falls from 5% to 3%, then inflation will increase from 5% to 7%.
What transpires to LRAS as AD declines?This is what will take place: Since the economy's capacity has diminished, LRAS moves to the left. Since these regulations raise the cost of production, SRAS will likewise decline until output has reached its pre-regulation level.A curve that depicts the correlation between price level and real GDP that would exist if all prices, including nominal wages, were completely flexible; prices can vary along the LRAS, but output cannot because it represents the output at full employment.The curve shifts to the right as the production factors rise, while a decline in the production factors will result in a movement to the left.To learn more about LRAS refer to:
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the term used to describe the practices that organizations and their managers use for identifying, creating, acquiring, developing, dispersing, and exploiting competitively valuable knowledge is
Knowledge management used to describe the practices that organizations and their managers use for identifying, creating, acquiring, developing, dispersing, and exploiting competitively valuable knowledge.
Information must be kept in a location that is simple to find in order for knowledge management to be successful. Three categories of knowledge—tacit, implicit, and explicit knowledge—are also included in the definition of knowledge management. The coding of the information greatly distinguishes these sorts of organizations. Sharing viewpoints, ideas, experience, and information with others, ensuring that they are accessible at the appropriate time and place to enable informed decisions, and eliminating the need to rediscover knowledge are all goals of the knowledge management process.
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a company has just signed a 90-day non-trade note payable to borrow $20,000. when preparing its statement of cash flows (using the indirect method), how should the company report the interest paid on the note?
The company should report the interest paid on the note as a cash outflow from operating activities.
The tasks a company performs that are directly relevant to offering its products and/or services to the market are referred to as operating activities. A product or service is manufactured, distributed, marketed, and sold. These are the company's primary business activities.
Operating activities are different from investing and finance activities, which are corporate tasks unrelated to the delivery of goods and services. Operating activities are all the things a business does to consistently market its goods and services.
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your study partner is confused by the upward-sloping short-run aggregate supply curve and the vertical long-run aggregate supply curve. how would you explain this?
A short-run aggregate supply curve is upward-sloping as greater price leads to greater output while the vertical long-run curve remains the same at every price level.
The aggregate supply curve in the short run is upward-sloping because a higher aggregate price level leads to higher aggregate output. When price decreases aggregate output also decreases
If the nominal wages are sticky aggregate supply curve is vertical at the potential output because in the long run, all prices are flexible and changes in the aggregate price level have no effect on aggregate output. It remains fixed.
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drax architecture uses design software to create schematics for its various projects. the schematics are then electronically sent to the manufacturing system where the production team assembles a detailed model of the project. drax is most likely using?
Production drax is most likely using.
What is production in business?Production is the process of merging diverse immaterial inputs (plans, knowledge) with material inputs to create something that is intended for consumption (output). It is the process of producing an output, a good or service that has value and enhances people's usefulness. Production theory, a branch of economics that focuses on production, is entwined with the consumption (or consumer) theory of economics.
Utilizing the initial inputs productively results in the production process and output, which include the four components of production (or factors of production). Land, labor, and capital are regarded as the three major production components and are referred to as primary producer commodities or services. These fundamental inputs don't undergo much change during the output process, nor do they become a complete component.
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is it possible for a firm to experience simultaneously an increasing average product and diminishing marginal product? it is because .
All of the inputs have the potential to alter over time and are variable. A relationship between input and output is all that is needed for a return to scale.
Expanding gets back to scale happen when what goes into the creation of merchandise is not exactly the results of creation.
No, a business cannot simultaneously experience both increasing and decreasing returns. From a mathematical perspective, it is impossible to experience both of them simultaneously because they are opposites. Diseconomies of scale can lead to either increased or decreased returns for a business. Because a company cannot simultaneously experience both increased and decreased output, it cannot experience both simultaneously.
When marginal product drops, what happens to average product?
Average product decreases if marginal product is lower than average product. Average product rises if marginal product is greater than average product.
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what is the point at which the operational control of ownership changes from the isp to united states cyber command?
The demarcation point or demarc is the point at which the operational control or ownership changes from your company to a service provider.
A political demarcation line is a geopolitical border, frequently agreed upon as a part of an armistice or ceasefire. Moroccan Wall, delimiting the Moroccan-managed part of Western Sahara from the Sahrawi-managed component the line of Demarcation became one precise line drawn alongside a meridian inside the Atlantic Ocean as a part of the Treaty of Tordesillas in 1494 to divide new lands claimed by using Portugal from the ones of Spain. This line changed into drawn in 1493 after Christopher Columbus again from his maiden voyage to the Americas.
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foreign exchange markets can provide some insurance against volatile changes in exchange rates, which is called foreign exchange
Foreign exchange markets can provide some insurance against volatile changes in exchange rates, which is called foreign exchange risk.
Forex refers to exchanging the forex of 1 us off for every other at triumphing trade rates. Allow us to take a close look at the means of forex. Exclusive international locations have exceptional currencies. Foreign exchange converts the currency of 1 USA into every other.
Simultaneous trade: The change of the relinquished property for the alternative assets happens at an equal time. Behind schedule change: this is the most not unusual kind of exchange.
Higher hobby costs offer lenders in a financial system a better go-back relative to different nations. Consequently, higher hobby prices entice foreign capital and motivate the alternate fee to upward push.
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a group that managers or nonmanagerial employees form to help achieve their own goals or meet their own needs is called a(n)
A group that managers or nonmanagerial employees form to help achieve their own goals or meet their own needs is called a(n) Informal Group.
An employee is someone who gets paid to paintings for someone or employer. employees don't want to paintings full time to be taken into consideration employees—they definitely need to be paid to work by using a corporation (the character or enterprise that pays them).
To personally do the paintings they had been hired to do. to do their work cautiously and seriously (In some cases, they could be fired or disciplined if they are frequently past due for paintings, or if they're absent too regularly or for no suitable reason.) to avoid putting themselves or others in risk.
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you expect a share of stock to pay dividends of $1.60, $2.25, and $2.50 in each of the next 3 years. you believe the stock will sell for $25.00 at the end of the third year. a. what is the stock price if the discount rate for the stock is 10%? (do not round intermediate calculations. round your answer to 2 decimal places.) b. what is the dividend yield for year 1? (do not round intermediate calculations. enter your answer as a percent rounded to 2 decimal places.) c. what will be the dividend yield at the start of year 2? (do not round intermediate calculations. enter your answer as a percent rounded to 2 decimal places.)
Part a. Stock price is $23.98
Part b. The dividend yield in year 1 is 6.67%
Part c. The dividend yield in year 2 is 9.08%
The current stock price is the present value of the stock at which it will be traded in the stock market. The yield on the stock is in the form of dividends.
The dividend paid in year 1 is $1.60
The dividend paid in year 2 is $2.25
The dividend paid in year 3 is $2.50
The discount rate is 10%
Part a.
[tex]Stock price = \frac{Dividend 1}{(1+r)^1}+\frac{Dividend 2}{(1+r)^2}+\frac{Dividend 3}{(1+r)^3} +\frac{Selling price}{(1+r)^3}[/tex]
[tex]Stock price = \frac{1.60}{(1.10)^1}+\frac{2.25}{(1.10)^2}+\frac{2.50}{(1.10)^3} +\frac{25}{(1.10)^3}[/tex]
= 1.4545+1.8595+1.8727+18.8728
= $23.97
Part b.
The dividend yield in year 1 is calculated as follows:
Dividend yield = D1/Purchase price
= 1.60/23.97 = 6.67%
Part c.
Firstly, current price of stock in the starting of year 2 is calculated which is as follows:
[tex]Value of stock in year 2 = \frac{Dividend 2}{(1+r)^1} + \frac{Dividend 3}{(1+r)^2} + \frac{Selling price}{(1+r)^2}[/tex]
= 2.25/(1.10)^1 + 2.50/1.10^2 + 25/1.10^2
= 2.0454 + 2.0661 + 20.6611
= $24.7727
Dividend yield year 2 = D2/Purchase price in year 2
= 2.25/24.7727
= 9.0825%
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which act covers private-sector employees over age 21 enrolled in noncontributory (100 percent employer-paid) retirement plans who have one year's service
Some of these benefits are mandatory for companies, such as worker provident funds, statutory leaves, gratuity, fitness insurance, and maternity leave.
Other additional benefits such as bonuses, paid vacations, and dental insurance is situation to the organisation's policies.
Is gratuity a described benefit plan?Defined Benefit Plans
Examples are pension, gratuity, post-employment medical benefit, etc. Contribution and benefit plans can be diverse like State plans, Multi-Employer plans or Insured plans and they require separate disclosures in the financial statement.
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https://brainly.com/question/12143528#SPJ4joe's applying for a mortgage that meets all of the fannie mae/freddie mac criteria. based on this, how would we classify this loan?
The best way to categorize or classified this loan is as a traditional mortgage loan.
A traditional mortgage loan is what?
This is a conforming loan, which basically implies that it complies with Freddie Mac or Fannie Mae's standards.
This kind of mortgages have fixed interest rates, which means that they remain the same for the course of the loan. Additionally, because they are not federally guaranteed, banks and creditors have stricter lending requirements for them.
In conclusion, Fannie Mae and Freddie Mac are companies that are supported by the government and that buy mortgages from lenders and sell them to investors.
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ticky wages occur because: multiple choice employers must wait until the current contract ends to cut someone's pay. unions often negotiate wages for several years in advance. wages can only be changed at the end of contracts, as opposed to final good prices which can change anytime. all of these are true.
Sticky wages happen when an employee's compensation cannot be changed due of an increase in living expenses until the present contract has expired.
In order to gain the upper hand against inflation, cost of living adjustments could be seen of as a system designed to boost benefits that affect people alongside inflation.
When there is no structure in place to fight for people's social benefits, inflation causes commodity prices to rise during its term. If this is not done, people will be severely impacted and won't be able to afford many products on the market. This was the measure implemented in the 1970s and 1980s to assist combat inflation and minimize the impact on people.
It is a contractual requirement that pay increases follow inflation. It often corresponds to the Consumer Price Index's percentage growth. It also refers to a modification of a person's monthly retirement benefit. Calculating the increase in wages as a result of rising living costs is also helpful.
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when the reorder point r exceeds q*, the difference is backorders. surplus inventory. safety stock. one or more outstanding orders.
When the reorder point r exceeds q*, the difference is one or more outstanding orders.
The reorder point is the extent of stock which triggers an movement to refill that precise stock stock. it's far a minimum quantity of an item which a company holds in inventory, such that, when inventory falls to this quantity, the item ought to be reordered.
Reorder quantity is the number of merchandise you order from a dealer, where the reorder point is the predetermined wide variety of devices you have left reachable at which you want to reorder more stock out of your supplier or you'll run out.
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Jeff bezos awarded which singer the courage and civility award along with $100 million to be distributed to charities as she sees fit?.
The most recent recipient of Amazon founder Jeff Bezos' Courage and Civility award is country artist Dolly Parton. Bezos gave the music legend $100 million to contribute to any charities of her choice.
What is Amazon?Amazon.com is a global technology company with headquarters in the US that specialises in digital streaming, cloud computing, online advertising, and artificial intelligence. It has been referred to as "one of the most significant economic and cultural forces in the world" and is one of the most valuable brands ever. It is one of the Big Five American technology companies, along with Alphabet, Apple, Microsoft, and Meta. Jeff Bezos, a former employee of a Wall Street hedge fund, started Amazon.com in 1994. He picked the name mainly because it began with the first letter of the alphabet and because it was connected to the great South American river.
Hence, Dolly Parton, a country singer, was most recently selected as the recipient of Amazon founder Jeff Bezos' Courage and Civility award. The music icon has received $100 million from Bezos to donate to any charities of her choice.
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state banks are: group of answer choices required by law to belong to the federal reserve system chartered by the state in which they are based more closely regulated than national banks either the same or larger than national banks are accurately described by all of the above
State banks are required by law to belong to the federal reserve system. Option A.
What is the federal reserve system?The United States of America's central banking system is called the Federal Reserve System. With the passage of the Federal Reserve Act on December 23, 1913, it was established in response to the need for centralized control of the monetary system to prevent financial crises following a string of financial panics.
The central bank of the United States is the Federal Reserve System, also known as the Federal Reserve or simply "the Fed." It was established by the Congress to give the country a more secure, adaptable, and stable financial and monetary system.
When a national bank merges or consolidates with a State member bank operating under a State charter, the State bank's membership in the Federal reserve.
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steve's company has been told to keep costs down and take advantage of economies of scale in all purchasing, manufacturing, and transportation decisions. when a company must focus on cost reduction like this, it is beneficial to use a(n) ________supply chain strategy.
Steve's company has been told to keep costs down and take advantage of economies of scale in all purchasing, manufacturing, and transportation decisions. when a company must focus on cost reduction like this, it is beneficial to use a(n) push supply chain strategy.
What is a push supply chain strategy?
With a push supply chain approach, choices regarding when to create and distribute products are made based on expected customer demand. Seasonal products are an illustration of a basic push supply chain strategy.
A push system starts production in anticipation of future demand, whereas a pull system starts production in response to the current demand. A push system starts production independently of demands, whereas a pull system is triggered by actual demands for finished goods.
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the maybe pay life insurance company is trying to sell you an investment policy that will pay you and your heirs $27,000 per year forever. if the required return on this investment is 6.3 percent, how much will you pay for the policy?
If the required return on this investment is 6.3 percent, Present value = $428571.4286 rounded off to $428571.43.
Investing is using money to buy an asset and increase its value over a period of time. Making an investment requires sacrificing your current assets such as time, money, and effort. In finance, the purpose of investment is to generate profit from the assets invested.
An investment is an asset or item acquired for the purpose of income or capital appreciation. Valuation refers to the increase in value of an asset over time. When a person purchases a good as an investment, the intention is not to consume the good, but to use it to create wealth in the future.
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which of the following exemplifies goffman's concept of impression management? you base your sense of self on your personal goals and individual values. you act and dress differently with different social groups. you perform multiple roles, some of which overlap with each other. you move from one role to another without stress or strain.
The statement that exemplifies goffman's concept of impression management is You base your sense of self on your personal goals and individual values.
What is the goffman's concept of impression management ?Goffman's impression management theory can be described as the theories that focus on the identity performances.
It should be noted that the theory focus on how Goffman stressed that the individuals will always present himself based on the perceived audience which can be attributed to their front stage
Therefore, the first option is correct.
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rene shows you a report he just finished on the amount of time employees spend checking personal e-mail and instant messaging friends. the report consists of ten pages, six of which are charts with bright colors and large amounts of decoration. he asks for feedback on the report. what advice should you give him?
The major piece of advice would be to put more emphasis on the text and make sure it is organised, clear, and succinct rather than overdoing the visuals and decorations. Effective information delivery should come before aesthetic appeal in the report.
Which of the following is a rule of thumb for creating a successful pie chart?Which of the following best describes a rule of thumb for pie chart constructio. Use a legend to identify each slice if it is not possible to provide the proper labelling information next to each slice.
Which of the following describes typical raster graphics pixel formats?Common raster file formats include BMP (Windows bitmap) and TIFF (tagged image file format), which are lossless, as well as GIF and JPEG (joint photographic experts group), which are lossy formats.
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a useful guideline in designing strategy-facilitating policies and operating procedures is . a. to prescribe enough policies to give organizational members clear direction in implementing strategy and to place reasonable boundaries on their actions. this then empowers them to act within these boundaries in pursuit of company goals b. that strictly enforced policies work better than loosely enforced policies c. that more policies/procedures work better than fewer policies/procedures, and that strict enforcement always beats lax enforcement d. to let individuals act in an empowered and self-directed way, subject only to the constraint that their actions and behavior be ethical and in step with the corporate culture e. to prescribe enough policies and procedures that little is left to chance in performing value chain activities, and employees should have no leeway to do things in a manner that deviates from the company's best-practices standard
A useful guideline in designing strategy-facilitating policies and operating procedures is (a) to prescribe sufficient policies that will provide organizational members with clear guidance in carrying out a strategy and establish acceptable bounds for their behavior.
The next step is to give them the freedom to act any way they see fit within these parameters. Strategic management and business policy are closely intertwined since business policies are essentially just strategies in effect. The company policies would be designed to meet the strategy, for example, if it calls for increasing market share.
The two names are frequently used interchangeably because of how closely they are related. Strategies turn into policies, and vice versa.
The distinction between business policies, which are the specific procedures for managing the organization on a daily basis, and strategic management, which is a mindset or corporate philosophy, is crucial for business owners to understand.
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which of the following describe effective responses to minimizing the impacts of the bullwhip effect? (choose all that apply) group of answer choices enable delivery in smaller batches increasing the generosity of return and order cancellation policies shifting to vendor-managed inventory improve information sharing to increase visibility of demand through the supply chain remove incentives for retailers to place orders at the same time (e.g. trade promotions)
The effective response to minimizing the impacts of the bullwhip effect is improve information sharing to increase visibility of demand through the supply chain.
What is bullwhip effect?The bullwhip effect is a phenomena that occurs in the supply chain when orders to suppliers have a tendency to vary more than sales to buyers, which amplifies the unpredictability of demand upstream. As one gets further up the supply chain, this partly causes inventory to fluctuate more in reaction to changes in consumer demand. It is also known as the Forrester effect because the idea initially appeared in Jay Forrester's Industrial Dynamics in 1961. "The observed tendency for material orders to be more variable than demand signals and for this variability to rise the further upstream a company is in a supply chain," is how one definition of it has been put. Stanford University's Department of Science used a Volvo-related tale to help the idea become part of supply chain lingo.
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sam is the owner of a ten-unit apartment complex. he has just hired a new property manager to run the property. serena, the new property manager, has been drawing up a new set of management plans for the property. what should be the deciding factors in the adoption of the new plans?
The deciding factor in the adoption of the new plans should be D. Both A and B.
The objectives of the owner shall play an important role in the management plans for his property. Any kind of management strategies shall be prepared in accordance with the objective of the owner. A property manager always has to make sure that the arrangement plans that are made meet the objectives of the owner.
The Fair Housing Laws are the laws that are made for proper house management. Any kind of apartment or house that is owned shall be managed according to The Fair Housing Laws.
Although a part of your question is missing, you might be referring to this question:
Sam is the owner of a ten-unit apartment complex. He has just hired a new property manager to run the property. Serena, the new property manager, has been drawing up a new set of management plans for the property. What should be the deciding factor in the adoption of the new plans?
A. The Owner's Objectives
B. The Fair Housing Laws
C. The Management Agreement
D. Both A and B
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What system acquisition method has the advantages of freeing up it resources by bypassing the is department and avoids delays, and allows users to control the design of the application and make changes as needed?.
The benefits of using a rapid application development system acquisition strategy include freeing up resources by avoiding the is department and avoiding delays.
Explain about the rapid application development?Although it has been around for a while, the RAD approach is still well-liked by companies seeking Agile application development techniques to keep the software development life cycle in step with expanding customer and company needs.
There are differences in the quick application development process. You divide the project into five phases instead of doing extensive, thorough planning: business modelling, data modelling, process modelling, application generation, and testing and turnover.
Requires a development team and product designers who are very skilled. need user participation at every level of the project. works less well for large-scale initiatives.
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question 36 options: a) determined by forces external to the firm. b) horizontal. c) the portion of its marginal cost curve that lies above its average variable cost. d) likely to slope downward.
The area of a firm's marginal cost curve that is above its average variable cost is its short-run supply curve in a perfectly competitive market.
What are the five characteristics of perfect competition?
Perfect competition has the following qualities:
The market is populated by a sizable number of buyers and sellers.The market is open to new entrants and exits by businesses.The same product ought to be offered by all businesses.The market should be well-known to both buyers and sellers.Price controls do not exist.According to economic theory, perfectly competitive exists when all businesses sell the same goods, market share has no bearing on prices, businesses can enter and exit the industry without any obstacles, consumers have complete or perfect information, and businesses are unable to set prices.
Therefore, the portion of its marginal cost curve that lies above its average variable cost in a Perfect competition
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suppose a stock had an initial price of $80 per share, paid a dividend of $.60 per share during the year, and had an ending share price of $88. compute the percentage total return. (
Return from stock has two parts. They are-
1. Dividend yield
2. Capital gain/ loss- It is the difference between starting price of the stock and the ending price. At starting price stock is purchased. At the end price, it can be sold. Therefore return from stock is-
[tex]\frac{Dividend\textup{}+\textup{Capital gain/loss}}{\textup{Initial price}}\times 100[/tex]
[tex]=\frac{\$ 0.60+\left ( \$ 88-\$ 80 \right )}{\$ 80}=10.75%[/tex]
Income typically consists of dividends, interest, and securities lending fees. This term is contrasted with price yield, which only considers capital gains on investments. Return on Investment (ROI) is a rough measure of the profitability of an investment. ROI is finally calculated by subtracting the initial cost of the investment from the final value and dividing this new figure by the cost of the investment.
Price returns typically capture capital gains or losses excluding coupons and dividends. Total return, by contrast, captures capital gains as well as income from coupons and dividends. ROI is his return per dollar invested. ROI is calculated by dividing your dollar return by your initial investment.
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Centralization of decision making will be used in a ________ strategy because the dispersed global activities of the firm that create value need to be tightly coordinated.
Centralization of decision-making will be used in a global standardization strategy because the dispersed global activities of the firm that create value need to be tightly coordinated.
What is global standardization?Global standardization is a marketing strategy that uses conventional marketing techniques to advertise goods across borders.Global standardization is used by companies and businesses that market their goods and services internationally.A global standardization plan will use centralization of decision-making because the firm's globally scattered activities that generate value must be closely coordinated.For instance, the Coca-Cola Company employs global standardization in marketing by maintaining a largely same product presentation throughout markets. When several languages are shown on the items, the corporation nevertheless employs the same design theme.Therefore, centralization of decision-making will be used in a global standardization strategy because the dispersed global activities of the firm that create value need to be tightly coordinated.
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what presents an effective technique to improve cash management? multiple choice slow down both the payment and collections of cash. speed up cash payments and slow down cash collections. speed up cash collections and slow down cash payments. speed up both collections and payments of cash.
The correct option is speed up cash collections and slow down cash payments.
Controlling cash flow and managing the company's operations economically, efficiently, and effectively are made possible by good cash management. By doing this, the company can lessen business disruptions, run smoothly and effectively, and secure its long-term development and viability.
Working capital balances are a crucial component of managing cash flow because they demonstrate how many current assets a business has to offset its current liabilities.
Simple goals for cash management include maximising liquidity, controlling cash flows, and maximising the value of funds while minimising their cost. Various levels of long-term planning are necessary as part of the strategies for achieving these goals.
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