Which of the following is true of strategic planning in a firm?
A) It deals with maintaining the company's current business ventures.
B) It focuses on the firm's internal environment rather than the external environment.
C) It occurs at the business-unit, product, and market levels rather than at the corporate level.
D) It deals with adapting the firm to take advantage of changing marketing opportunities.
E) It involves preparing short-term investment objectives at the product level.

Question

Quizplus · Accepted Answer

Strategic planning in a firm deals with adapting the firm to take advantage of changing marketing opportunities, such as new products, changing customer needs, and emerging markets. It involves long-term planning at the corporate level, as well as at the business-unit, product, and market levels, and takes into account both the internal and external environment of the firm. Short-term investment objectives may be a part of the plan, but they are not the primary focus.

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