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Which of the following best describes 'strategic resource allocation'?

Practice Questions

Q1
Which of the following best describes 'strategic resource allocation'?
  1. Allocating resources based on immediate needs.
  2. Distributing resources to achieve long-term organizational goals.
  3. Focusing on short-term financial gains.
  4. Randomly assigning resources to various projects.

Questions & Step-by-Step Solutions

Which of the following best describes 'strategic resource allocation'?
  • Step 1: Understand what 'strategic resource allocation' means. It is about deciding how to use resources like money, time, and people effectively.
  • Step 2: Recognize that the goal of strategic resource allocation is to achieve long-term objectives or goals.
  • Step 3: Look for options that mention distributing resources in a way that supports long-term success.
  • Step 4: Identify that option 1 describes this process correctly, as it aligns with the definition of strategic resource allocation.
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