Question 1

Because tactical plans are based primarily on a prediction of the future,and strategic plans are based on known circumstances that exist within the organization,tactical plans are generally less detailed than strategic plans.

Accepted Answer

Strategic plans are typically more high-level and less detailed than tactical plans, as strategic plans outline the overall goals and direction of an organization, while tactical plans focus on the specific actions needed to achieve these goals, often including more detailed steps and shorter time frames.

Question 2

Compare and contrast strategic and tactical planning.

Accepted Answer

The answer of Compare and contrast strategic and tactical planning....

Question 3

Mary has just formulated the annual budget for her department.She has outlined how the funds must be allocated and spent over the 12 months.This would most likely be categorized as ________.

Accepted Answer

Tactical planning focuses on the short-term actions and allocation of resources needed to implement parts of a strategic plan. Mary's annual budget for her department, detailing fund allocation over 12 months, fits the definition of tactical planning, as it involves specific, short-term planning within the broader strategic goals of the organization.

Question 4

What is competitive dynamics? Briefly describe the factors that influence a firm's action or reaction?

Accepted Answer

The answer of What is competitive dynamics? Briefly describe the...

Question 5

________ refers to the process by which firms undertake strategic and tactical actions and how competitors respond to these actions.

Accepted Answer

Competitive dynamics refers to the process by which firms undertake strategic and tactical actions and how competitors respond to these actions. It involves understanding and analyzing the moves and countermoves between competitors within an industry.

Question 6

Which one of the following sentences about the differences between strategic planning and tactical planning is true?

Accepted Answer

Strategic planning focuses on long-term goals and the overall direction of an organization, analyzing future trends and setting a vision for the future. Tactical planning, on the other hand, deals with the implementation of strategic plans, focusing on the day-to-day operations and the immediate actions needed to achieve the strategic objectives.

Question 7

The last step of the strategic management process,consisting of monitoring and evaluating the strategic management process as a whole,is ________.

Accepted Answer

Strategic control is the last step in the strategic management process, focusing on monitoring and evaluating the effectiveness of the strategy and its implementation to ensure that organizational objectives are achieved.

Question 8

________ refers to how mindful a company is of its competitor's actions.

Accepted Answer

Competitor awareness refers to the extent to which a company is mindful and observant of its competitors' actions, strategies, and overall presence in the market. This involves tracking competitors' moves to anticipate potential impacts on the company's own strategy.

Question 9

________ is short-range planning that emphasizes the current operations of various parts of the organization.

Accepted Answer

The answer of ________ is short-range planning that emphasizes the...

Question 10

Because strategic planning focuses on the long term and tactical planning on the short term,strategic plans cover a relatively long period of time whereas tactical plans cover a relatively short period of time.

Accepted Answer

Strategic planning is aimed at setting long-term goals and determining the resources and actions needed to achieve them, typically covering a period of several years. In contrast, tactical planning focuses on the short-term actions and resources necessary to implement the strategic plan, usually covering a period of up to one year.

Quiz 9: Strategic Planning: Strategies, tactics, and Competitive Dynamics