What Is the Difference Between Strategic Planning and Operational Planning

question 36

Multiple Choice

What is the difference between strategic planning and operational planning?

• A) Strategic planning sets out strategies for the business to achieve long-term growth and other goals, while operational planning covers the day-to-day operations of the business.
• B) Strategic planning covers the short-term day-to-day workings of a business, while operational planning sets out long-term goals.
• C) Strategic plans are for one year or less and have very specific objectives, while operational plans are more vague and long-term.
• D) All of the above
• E) None of the above

---

Definitions:

Government Purchases

Expenditures made by the government for goods and services that directly satisfy the needs of the community or are used to provide public services.

Transfer Payments

These are payments made by the government to individuals, without the government receiving any goods or services in return, such as welfare or social security.

Resources

Assets, materials, or inputs used in the production of goods and services.

Federal Tax Revenue

The income collected by the federal government mainly through taxes such as income tax, corporate tax, and excise duties.