Determining a firm's long-term goals and objectives,adopting courses of action,and allocating resources required to achieve goals is a process called:

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The process described in the question is strategic planning, which involves setting long-term goals, determining courses of action, and allocating resources to achieve those goals. Strategy formulation is a component of strategic planning, but it specifically refers to the process of developing strategies to achieve goals. Strategy implementation involves putting those strategies into action. Capital budgeting is a specific process of allocating financial resources for long-term investments.

Determining a Firm's Long-Term Goals and Objectives,adopting Courses of Action,and