Strategic planning is long range, formulated by top management, and performed as if the company operates in a vacuum.

Question

Quizplus · Accepted Answer

Strategic planning is long range and formulated by top management, but it should not be performed as if the company operates in a vacuum. Effective strategic planning takes into consideration external factors such as competition, market trends, and other environmental factors. It also involves input and collaboration from various levels and departments within the company.

Strategic Planning Is Long Range, Formulated by Top Management, and Performed