Question

Lance has set for his business the goal of increasing revenues by 20% and profits by 15% by the end of the year. Lance is likely high in:

A) Risk tolerance

B) Risk aversion

C) Financial conservatism

D) Operational efficiency

Answer 1

The correct answer is Operational efficiency.

Step-by-step explanation:

The correct answer is D) Operational efficiency. Lance's goal of increasing revenues and profits demonstrates a focus on operational efficiency, which involves improving productivity, reducing costs, and maximizing profits. By setting specific targets for revenue and profit growth, Lance is prioritizing the efficient operation of his business.

Operational efficiency is important for businesses as it helps them stay competitive and achieve their financial goals. It involves optimizing processes, utilizing resources effectively, and continuously improving performance. By aiming to increase revenues and profits, Lance is indicating that he values operational efficiency in his business strategy.

Therefore, the correct answer to this question is D) Operational efficiency.