Planning Factors (Scenario)
As vice president of a local manufacturer, you are interested in developing a new organizational plan. However, you are not sure who you should assign to the varying planning tasks. At the same time, several other issues that could deeply affect your business are pending, including rising interest rates and the potential formation of a new employee union. You must also consider your firm's contracts with large vendors that extend five years into the future.
-Which plans should you and other top management members be developing?
A) Specific
B) Strategic
C) Overall
D) Operational

Question

Quizplus · Accepted Answer

Strategic plans are long-term plans that guide an organization's overall direction and goals. They are typically developed by top management and should take into account factors such as rising interest rates, the potential formation of a new employee union, and contracts with large vendors.

Planning Factors (Scenario) As Vice President of a Local Manufacturer, You Are Interested