The main reason that most entrepreneurial start-up companies adopt a formalized process of strategic planning processes at some stage of their development is:
A)To allow quantitative analysis to be applied to strategic decision
B)To limit the power of founders
C)To facilitate coordination and control as a company grows in size and complexity
D)To enable decisions to become focused more on long term development

Question

Quizplus · Accepted Answer

As a company grows in size and complexity, it becomes increasingly difficult to coordinate and control all aspects of the business. Formalized strategic planning processes help to facilitate coordination and control in a systematic way. This enables the company to respond to changes in the competitive environment and build a sustainable competitive advantage. Additionally, formalized strategic planning processes help to ensure that decisions are focused on long-term development rather than short-term gains.

The Main Reason That Most Entrepreneurial Start-Up Companies Adopt a Formalized