The Type of Planning That Is Usually Done by Top

question 55

Multiple Choice

The type of planning that is usually done by top management and is for a period of five years or more into the future, is known as:

• A) operational planning.
• B) short-term planning.
• C) strategic planning.
• D) intermediate planning.

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Definitions:

Economic Factors

External factors including the strength or weakness of markets, stability of trade cycles, specific industry conditions, customer preferences, and government’s economic policies.

Labor Laws

Regulations and laws that govern the rights and responsibilities of workers, employers, and labor unions to ensure fair employment practices.

Political Factors

Elements related to government actions, policies, and political stability that can influence business operations and decisions.

Acquire Resources

The process of obtaining the necessary materials, finances, and human skills required for the operation of a business or project.