A(n) ________ is a plan which is decided by a firm's top management and which reflects the company's priorities, as well as the steps needed to meet strategic goals.

Question

Quizplus · Accepted Answer

A strategic plan is a long-term planning document that outlines a company's goals, priorities, and action steps needed to achieve those goals. It is developed by top management and guides decision-making across the organization. Option A, tactical plan, is a short-term plan that outlines specific actions needed to achieve a particular goal. Option B, operational plan, is a plan for carrying out day-to-day activities to support the strategic plan. Option C, standing plan, is a type of plan that is used repeatedly to handle recurring situations, and Option E, single-use plan, is a plan used only once, typically for a specific project or event.

A(n) ________ Is a Plan Which Is Decided by a Firm's