A(n)________ Is a Formal Planning Step That Focuses on an Entire

question 22

Multiple Choice

A(n) ________ is a formal planning step that focuses on an entire venture and describes all the elements involved in starting it.

• A)business plan
• B)operational plan
• C)opportunity analysis
• D)trend analysis
• E)strategic plan

---

Definitions:

Bargaining Position

The relative power or leverage that a party has during negotiations to influence the terms in their favor.

Supplier Merges

The act of two or more suppliers combining their operations, often to increase efficiency or market power.

Product Redesign

The process of updating or changing the features, appearance, or specifications of a product to improve its performance, appeal, or production efficiency.

Nonstrategic View

An approach or perspective that does not involve long-term planning or consideration of competitive positioning.