Asked by Jennifer Marcoccia on Apr 26, 2024
Verified
Strategic planning can be defined as:
A) how each functional area will achieve its specific goals and objectives.
B) an action plan to achieve specific operational and tactical goals.
C) a procedure for allocating resources to appropriate functions in the organization.
D) taking big risks to maximize current period benefits.
E) an action plan to achieve specific long-term goals and objectives.
Strategic Planning
Involves the formulation and implementation of major goals and initiatives, taken by an organization's top management based on consideration of resources and an assessment of the internal and external environments in which the organization competes.
Long-Term Goals
Objectives or desired outcomes that a person, organization, or project aims to achieve over an extended period.
Operational
Pertaining to the operations or functioning of a system or organization, often involving the day-to-day activities necessary for running it effectively.
- Understand the role of strategic planning in achieving long-term goals and objectives.
Verified Answer
Learning Objectives
- Understand the role of strategic planning in achieving long-term goals and objectives.
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