Strategic planning has a minimal impact on a firm's destiny because it provides only short-term direction to the decision makers.

Question

Quizplus · Accepted Answer

This statement is false. Strategic planning is a crucial process that is intended to provide both short-term and long-term direction to a firm's decision makers. It involves analyzing the current market conditions, identifying strengths and weaknesses, and setting goals that guide decision making and resource allocation in the years to come. Effective strategic planning can therefore have a significant impact on a firm's destiny, helping to shape its trajectory and ensure its success over the long term.

Strategic Planning Has a Minimal Impact on a Firm's Destiny