If a firm decides to make a major investment in another firm that supplies raw materials to it, this would be an example of ______________ planning. If a university decides to add courses in ethics and business analysis to its master's degree program, this would be an example of ____________ planning.

Question

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The first scenario is an example of strategic planning because it involves a long-term decision that affects the overall direction of the firm. The second scenario is tactical planning, as it involves specific actions (adding courses) that support the broader strategy of the university's educational offerings.

If a Firm Decides to Make a Major Investment in Another