According to Peter Drucker, Developing a Clear Business Vision and Mission

question 50

True/False

According to Peter Drucker, developing a clear business vision and mission is the first responsibility of strategists.

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Definitions:

Intermediate-Term Plans

Refers to strategic plans developed for a timeframe of typically 2 to 5 years, aiming at achieving medium-range objectives.

Functional Plan

A detailed, department-specific plan designed to achieve operational and strategic objectives within an organization.

Operations

The day-to-day activities necessary for running a business or organization, focusing on producing goods or providing services efficiently and effectively.

Planning

The process of setting goals, determining the actions required to achieve these goals, and mobilizing resources to execute the actions.