Which of the Following Statements Is True of Strategic Planning

question 97

Multiple Choice

Which of the following statements is true of strategic planning?

• A)​The goal of strategic planning is to create daily operational schedules for first-line workers.
• B)Strategic decisions require short-term commitments of resources.
• C)A good strategic plan can help protect and grow a firm's resources.
• D)Stra tegic planning lacks an understanding of customers and the market.

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Definitions:

Multifunctional Team

A team composed of members from different functional areas of an organization working towards a common goal.

BSC Performance Management System

A strategic planning and management system used to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organizational performance against strategic goals.

Strategic Objectives

Long-term goals that help to convert a mission statement from a broad vision into more specific plans and projects.

Internal Processes Perspective

An aspect of the Balanced Scorecard that focuses on the internal operational goals and performance necessary to achieve financial objectives.