________ Is the Prediction of Future Events Used for Planning

question 143

Essay

________ is the prediction of future events used for planning purposes.

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Definitions:

Strategy Formulation

The process of developing the set of actions and decisions required to achieve organizational goals and compete in the marketplace.

Strategic Planning

The process of defining an organization's strategy or direction and making decisions on allocating resources to pursue this strategy.

Top Executives

Individuals who hold the highest-level management positions within an organization, responsible for determining strategy and policy.

Organizational Performance

A measure of how efficiently and effectively a company or organization achieves its objectives.