What Are the Pitfalls in Strategic Planning That Management in an Organization

question 47

Essay

What are the pitfalls in strategic planning that management in an organization should watch out for or avoid? Identify any five pitfalls.

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Definitions:

Credit

An accounting entry that increases the balance of liabilities and equity accounts, or decreases the balance of an asset or expense account.

Stockholders' Equity

The equity held by stockholders in a corporation, determined by subtracting total liabilities from total assets.

Dividends Account

An account used in accounting to track distributions of earnings paid to shareholders.

Salary Expense Account

An account recording the total amount paid to employees for services rendered during a specific period, before any deductions.