Strategic Planning Involves Broad Thinking About a Firm's Mission, and Goals

question 85

Multiple Choice

Strategic planning involves broad thinking about a firm's mission, and goals. It usually has a time frame or planning horizon of:

• A)10 to 20 years.
• B)one to three years.
• C)five years.
• D)Any of the above

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Definitions:

Drive

An innate, biologically determined urge to attain a goal or satisfy a need.

Delay Gratification

The ability to resist the temptation for an immediate reward and wait for a later, often greater reward.

Delay Gratification

The capacity to withstand the urge for an instant gratification in favor of a future reward.

Immediate Reward

A reward received directly after completing a task or activity, often motivating future behavior.