The process of thoughtfully defining a firm's objectives and developing a method for achieving those objectives is called

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The process of thoughtfully defining a firm's objectives and developing a method for achieving those objectives is referred to as strategic planning. Strategic planning is an essential process that involves analysis, decision-making, and action planning to accomplish long-term goals and objectives. It assists companies in making decisions that align with their mission and vision, as well as in determining the best path for achieving those objectives. Business planning, functional planning, and marketing development are all connected to strategic planning but refer to more specific areas of the business planning process.

The Process of Thoughtfully Defining a Firm's Objectives and Developing