Lauren is a financial manager.As a member of her company's middle management team,her job is to ensure that the company has adequate cash to make required payments and to find good short-term investment opportunities when her company temporarily has more cash than necessary.Her efforts include developing a cash budget for the next year to identify when the company might have surpluses or shortages of cash.This would be described as which of the following?

Question

Quizplus · Accepted Answer

Tactical planning involves short-term planning that focuses on implementing the strategies and plans developed through strategic planning. In this case, Lauren is developing a cash budget for the next year, which is a short-term plan that aims to ensure the company has sufficient cash on hand. This is an example of tactical planning. Operational planning focuses on daily activities and tasks needed to achieve the goals set in the tactical plan. Contingency planning involves developing backup plans to deal with unexpected events or emergencies. Strategic planning involves setting long-term goals and objectives for the organization.

Lauren Is a Financial Manager