Week 11 | Profit Planning Flashcards
1
Q
What is profit planning?
A
An exercise in testing (competing) strategies and considering the resources required to operationalise those strategies. It may include ideas such as deleting and/or introducing new products amongst other initiatives that seek to improve performance with time
2
Q
In real life, how does management make conclusions from profit planning?
A
- Consider long term strategy: from here it is nece