Which of the Following Is True of Strategic Planning in a Firm

question 32

Multiple Choice

Which of the following is true of strategic planning in a firm?

• A)Strategic planning deals with maintaining the company's current business ventures.
• B)Strategic planning focuses on the firm's internal environment rather than the external environment.
• C)Strategic planning occurs at the business-unit, product, and market levels rather than a company-wide level.
• D)Strategic planning deals with adapting the firm to take advantage of opportunities in its changing environment.
• E)Strategic planning involves the formulation of supporting objectives for business units based on the company's mission statement.

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Definitions:

Scientific Method

The scientific method is a systematic, empirical approach to investigating phenomena, acquiring new knowledge, or correcting and integrating previous knowledge, based on observable, measurable evidence.

Data Accumulation

The process of collecting and compiling data over time in order to analyze trends, patterns, or relationships within the gathered information.

Control Group

In experimental research, the group of subjects that does not receive the treatment or intervention being tested, serving as a benchmark to measure the effect of the treatment.

Report Bias

A tendency to present information in a way that selectively overlooks, underrepresents, or exaggerates certain viewpoints or data.