Shire Inc.,a clothing manufacturer,has recently become very successful.The top management is now planning to venture into the confectionary business and earn similar profits in this new business.This is an example of _____ planning.

Question

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The decision to enter a new business line for long-term profitability is an example of strategic planning. This involves identifying and analyzing opportunities and developing a plan to achieve the desired goals. Operational planning involves planning for day-to-day activities to achieve the strategic plan, while contingency planning involves preparing for potential unexpected events that could impact the organization. Integrated operational planning integrates various departments and functions to achieve the overall objectives.

Shire Inc,A Clothing Manufacturer,has Recently Become Very Successful