Executives at Lululemon Athletica have just written a plan that allocates a large part of the firm's cash to a new product line.This will give them a competitive advantage and the new product line will have a synergistic effect when combined with current products.What kind of plan is this?
A) Strategic
B) Standing
C) Contingency
D) Tactical
E) Operational

Question

Quizplus · Accepted Answer

This plan is a strategic plan as it involves allocating a significant portion of the firm's resources towards a new product line, which will give them a competitive advantage and create synergies with their current products. Strategic plans involve long-term and high-level decisions that aim to achieve the company's overall goals and objectives.

Executives at Lululemon Athletica Have Just Written a Plan That