What is the term for the managerial process of creating and maintaining a fit between the organization's objectives and resources and evolving market opportunities?

Question

Quizplus · Accepted Answer

Strategic planning is the process of creating and maintaining a fit between the organization's objectives and resources and evolving market opportunities. This involves analyzing the organization's strengths and weaknesses, as well as the external environment, to identify opportunities and threats, and developing strategies to achieve the organization's goals.

B) market scanning and D) environmental scanning are related concepts, but they are not the specific term for the managerial process described. Market scanning involves monitoring and gathering information about specific markets, while environmental scanning involves monitoring and gathering information about the broader external environment.

C) functional planning is a narrower concept, focused on planning for specific functions or departments within the organization, rather than the broader strategic direction.

What Is the Term for the Managerial Process of Creating