The top management of New 18 Apparels Inc.has decided to set up an online store to cater to the changing business environment and reach out to the Asian market.The management has also identified that the success of the company will depend on its ability to create and develop new products and processes in the next two years.This is an example of _____.

Question

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The decision to set up an online store to cater to a new market and the focus on creating and developing new products and processes for future success are indicative of strategic planning. Strategic planning involves setting long-term goals and determining the best strategies to achieve those goals, which aligns with the actions described by New 18 Apparels Inc.

The Top Management of New 18 Apparels Inc