The Steps in a Planning Approach Are: (1)creating an Action

question 56

Multiple Choice

The steps in a planning approach are: (1) creating an action plan, (2) deciding if a goal is still worth achieving, (3) making a broad goal concrete and specific,and (4) evaluating goal-achievement performances.The correct sequential order of these steps is

• A)(1), (3), (2), (4).
• B)(3), (1), (4), (2).
• C)(4), (3), (2), (1).
• D)(2), (4), (1), (3).

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Definitions:

Financial Planning

The process of creating strategies for managing finance, including budgeting, saving, investing, and planning for future financial needs.

Forecast Growth

The predicted increase in value or size of a company, economy, or particular financial metric over a specified future period.

External Financing

Funds raised by a business from outside sources, including loans, bond sales, and equity investments, as opposed to internal financings such as retained earnings.

Investment Decisions

The process of deciding where to allocate resources and capital in order to generate returns in the future.