Which of the following is true of strategic planning in a firm?
A)Strategic planning deals with maintaining the company's current business ventures.
B)Strategic planning focuses on the firm's internal environment rather than the external environment.
C)Strategic planning occurs at the business-unit, product, and market levels rather than a company-wide level.
D)Strategic planning deals with adapting the firm to take advantage of opportunities in its changing environment.
E)Strategic planning involves the formulation of supporting objectives for business units based on the company's mission statement.

Question

Quizplus · Accepted Answer

Strategic planning involves adapting the firm to take advantage of opportunities in its changing environment. Strategic planning also considers the external environment, including competitors and market trends, rather than just the internal environment. Strategic planning occurs at a company-wide level and involves setting objectives for the entire organization rather than just individual business units. While supporting objectives may be developed for business units, they are not the primary focus of strategic planning.

Which of the Following Is True of Strategic Planning in a Firm