Which of the following best describes the strategic planning?

Which of the following best describes the 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.

Which of the following statement is true about strategic plans?

The correct answer option is D: they focus on the broad future of the organization. Strategic plans focus on the overall picture of the organization…

What is considered strategic planning?

Strategic planning is the art of creating specific business strategies, implementing them, and evaluating the results of executing the plan, in regard to a company’s overall long-term goals or desires. The term strategic planning is essentially synonymous with strategic management.

Which of the following statements best describes the concept of strategic awareness?

Managers understanding the organizations strategy, its effectiveness statements best describes the concept of strategic awareness. With this strategic awareness, leaders operate beyond the goal of competing to actively seize new and different possibilities.

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.

What is the overall focus of strategic planning?

The purpose of strategic planning is to set overall goals for your business and to develop a plan to achieve them. It involves stepping back from your day-to-day operations and asking where your business is headed and what its priorities should be.

Which of the following is the first step in the strategic planning process?

Strategic Planning Process Steps

  1. Determine your strategic position.
  2. Prioritize your objectives.
  3. Develop a strategic plan.
  4. Execute and manage your plan.
  5. Review and revise the plan.

Which of the following is associated with successful strategies?

Explanation : Creating superior value to customers, Exploitation of key success factors and Creating and maintaining strategic fit are associated with successful strategies.

What is strategic management process?

Strategic management process is a continuous culture of appraisal that a business adopts to outdo the competitors. Simple as it may sound, this is a complex process that also covers formulating the organization’s overall vision for present and future objectives.

Which statement best describes a strategy?

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.

What is the characteristic of strategic thinker?

Strategic thinkers are. They aren’t reacting or waiting to be told what to do. They are pitching new ideas, initiating new projects, and trying to figure out the next big thing. They approach what they need to do today as necessary for reaching a much larger, long-term goal.