Which of the following is a true statement about business planning?

Question

Quizplus · Accepted Answer

Business planning is an ongoing process that involves setting objectives, developing strategies to achieve those objectives, and continually reviewing and updating those strategies. It encompasses both short-term and long-term goals and is used to guide decision-making and resource allocation within an organization. Taking action before developing objectives (option A) is not effective or efficient and can lead to wasted resources. Business planning does not solely focus on the long term (option C) or short term (option D), but rather considers both timeframes. Lastly, business planning can take place before or after development of the marketing plan (option E), as marketing is just one component of business planning.

Which of the Following Is a True Statement About Business