Which of the Following Is a Defining Characteristic of Strategic

question 77

Multiple Choice

Which of the following is a defining characteristic of strategic planning?

• A) It is typically performed by middle managers and supervisors.
• B) It lays down objectives for specific departments and not for the entire firm.
• C) It covers a large time span, which is usually over a year.
• D) It is primarily aimed at making employees focus on their role in supporting the company's goals.

---

Definitions:

Circular-Flow Diagram

A model that illustrates the movement of resources, goods, services, and money between households and firms in an economy.

Factors Of Production

The resources used in the production of goods and services, typically classified into four groups: land, labor, capital, and entrepreneurship.

Labor

Tasks undertaken by individuals that aid in generating goods and services within an economy.

Capital

Financial assets or the financial value of assets, such as funds held in deposit accounts, as well as the physical factors of production including machinery and buildings.