Which of the following best describes the term 'resource allocation strategy'?

Practice Questions

Q1
Which of the following best describes the term 'resource allocation strategy'?
  1. A plan for distributing resources based on historical data.
  2. A method for determining the most efficient use of resources.
  3. A guideline for reducing resource wastage.
  4. A framework for evaluating employee performance.

Questions & Step-by-Step Solutions

Which of the following best describes the term 'resource allocation strategy'?
  • Step 1: Understand what 'resource allocation' means. It refers to how resources (like money, time, or materials) are distributed or used.
  • Step 2: Learn what a 'strategy' is. A strategy is a plan or method to achieve a goal.
  • Step 3: Combine the two definitions. A resource allocation strategy is a plan for how to use resources in the best way possible.
  • Step 4: Identify the goal of a resource allocation strategy, which is to use resources efficiently.
  • Step 5: Conclude that the correct answer describes this method of determining efficient resource use.
No concepts available.
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