Strategic Planning Is Long Range, Formulated by Top Management, and Performed

question 69

True/False

Strategic planning is long range, formulated by top management, and performed as if the company operates in a vacuum.

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Definitions:

Contingency Approach

A management theory that suggests the best way to manage an organization depends on the specific circumstances of the situation.

Organizational Design

The process of structuring an organization's roles, responsibilities, and resources to achieve its goals efficiently.

Demands of the Situation

The requirements or challenges inherent in a particular context or scenario that influence how one needs to act or respond.

Situational Factors

External influences that affect an individual's behavior or decision-making process, often considered in marketing to understand consumer behavior in different contexts.