Which of the following best describes a strategic planning?

Answer: Which of the following best describes a strategic plan? Explanation: Strategic plan involves a long term goal and it reflects decisions about resource allocations, company priorities, and steps needed to reach strategic goals.

What describes strategic planning?

Strategic planning is an organizational management activity that is used to set priorities, focus energy and resources, strengthen operations, ensure that employees and other stakeholders are working toward common goals, establish agreement around intended outcomes/results, and assess and adjust the organization’s …

Which of the following is also known as strategic plan?

Planning for the company as a whole is known as corporate planning. It is also known as strategic planning.

What are the four main points of strategic planning?

The 4 Steps of Strategic Planning Process

• Environmental Scanning. Environmental scanning is the process of gathering, organizing and analyzing information.
• Strategy Formulation.
• Strategy Implementation.
• Strategy Evaluation.

  Which of the following statements describes a good strategic thinker?

  Which of the following statements describes a good strategic thinker? A good strategic thinker has a limited repertoire of strategies on which to draw. A good strategic thinker lets the strategic process run its course. A good strategic thinker rarely modifies or changes the strategies used.

  Which is of the following statements best describes strategic management?

  A process consisting of the determination of direction, strategic actions to achieve objectives, the implementation of desired strategy, and monitoring of that strategy statements best describes strategic management.

  Which is of the following statements best describes scenario?

  D. Planning the best way to secure the scenario outcome that would benefit the company most Exploring future possibilities by looking at potential outcomes from particular causes and seeking to explain why things might occur best describes scenario planning.

  What do you need to know about scenario planning?

  Scenario planning is making assumptions on what the future is going to be and how your business environment will change overtime inlight of that future. More precisely, Scenario planning is identifying a specific set of uncertainties, different “realities” of what might happen in the future of your business.

  Who is responsible for profit and loss in strategic management?

  In the context of strategic management of a company, ________ have profit-and-loss responsibility for a product, a business, or the company as a whole. Philip oversees the processes of the research and development department of his company. He is responsible for all the activities and tasks undertaken by the department.