Which of the following is true with regard to strategic planning?
A) At the corporate level, the company starts the strategic planning process by determining what portfolio of businesses and products is best for the company.
B) A strategic plan deals with a company's short-term goals.
C) Finding the game plan for long-run survival and growth is the focus of strategic planning.
D) The strategic plan is a statement of an organization's purpose.
E) Strategic planning involves identifying segments of consumers with identical preferences.

Question

Quizplus · Accepted Answer

Strategic planning is the process of finding a game plan for long-term survival and growth. At the corporate level, the company starts by determining what portfolio of businesses and products is best for the company, but this is just one part of the strategic planning process. A strategic plan deals with both short-term and long-term goals, not just short-term goals. The strategic plan is not just a statement of an organization's purpose, but also includes specific actions and resources needed to achieve those goals. Identifying segments of consumers with identical preferences is part of market segmentation, which is related to but not the same as strategic planning.

Which of the Following Is True with Regard to Strategic