Although Developing a Strategic Plan Is Important for Large Companies

question 7

True/False

Although developing a strategic plan is important for large companies, it is not essential to managing a small company successfully because of its limited resources.

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Definitions:

Needs Analysis

The process of identifying and evaluating the needs of a specific group of people or organization to determine necessary actions for performance improvement.

Stakeholder Consultation

A process where stakeholders are given the opportunity to contribute their opinions and insights towards a project or decision before it is finalized.

Compliance Training

Instructional programs designed to inform employees of the organization's policies, regulations, and legal obligations to prevent violations and ensure workplace safety and ethics.

Health And Safety

Policies, procedures, and regulations implemented to prevent accidents and protect individuals from hazards in the workplace.