ANC Inc Operates with Planning Horizons Greater Than Five Years

question 44

Multiple Choice

ANC Inc. operates with planning horizons greater than five years. However, it is difficult to predict competitive conditions five years in the future, so the top managers implement a plan that involves regular reviews and updates in all levels of the company. The plan enables the company to respond quickly and to make adjustments as necessary. This is an example of a(n) ________ plan.

• A)short-term
• B)long-term
• C)intermediate-term
• D)rolling
• E)annual

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Definitions:

General Guidelines

Broad and nonspecific recommendations or rules intended to provide direction or advice.

Conceived Plan

An initial blueprint or idea for a project or endeavor that has been thought of but not necessarily fully designed or implemented.

Mission Statement

A concise explanation of an organization's purpose and core values, intended to guide its decisions and actions.

Key Stakeholders

Essential individuals or groups that have an interest, stake, or investment in the success of a project or organization.