A firm's basic path to the future is spelled out in a document called a
A) feasibility study.
B) short-range plan.
C) budget.
D) strategic plan.

Question

Quizplus · Accepted Answer

A strategic plan is a comprehensive document that outlines a firm's long-term goals and the strategies to achieve them. It usually covers a period of three to five years and includes an analysis of the firm's internal and external environment, a mission statement, a vision statement, objectives, action plans, and a monitoring and evaluation process. A feasibility study is a preliminary analysis to determine if a business idea is viable, a short-range plan covers a period of up to one year, and a budget is a financial plan that outlines expected revenues and expenses.

A Firm's Basic Path to the Future Is Spelled Out