The Process by Which a Firm's Managers Evaluate the Future

question 77

True/False

The process by which a firm's managers evaluate the future prospects of the firm and decide on appropriate strategies to achieve long-term objectives is called strategic planning.

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Definitions:

Personalization

The practice of tailoring a service or product to accommodate specific individuals, often based on personal information or preferences.

Digital Marketspace

A virtual platform where supply and demand meet in the digital environment, facilitating the exchange of goods, services, and information online.

Specific Needs

Refer to particular requirements or desires that consumers or organizations seek to fulfill through products or services.