Which of the Following Statements Best Describes Proper Strategic Planning

question 84

Multiple Choice

Which of the following statements best describes proper strategic planning?

• A)Strategic planning should be for three years.
• B)Effective strategic planning creates plans that are unaffected by environmental changes.
• C)Top-management participation in strategic planning should be encouraged.
• D)Strategic planning allows a firm to replace careful analysis with creativity.

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Definitions:

Profit-Maximizing

A strategy or process aimed at increasing a company's profits to the highest possible level.

Vickrey Auction

A type of sealed-bid auction where the highest bidder wins but pays the price offered by the second-highest bid.

Foreclosed

The judicial procedure that ends an owner's claim to a property, often because of the inability to keep up with mortgage payments.

Expected Revenue

The anticipated amount of money that a business expects to receive from its activities or sales, based on probabilistic assessment of future sales.