Planning concerned with long-range decisions such as defining the scope of the business is referred to as:
A) operations budgeting.
B) master planning.
C) capital budgeting.
D) strategic planning.

Question

Quizplus · Accepted Answer

Strategic planning involves defining the company's vision, mission, and goals for the long-term future. This involves making decisions about the direction of the company, its scope, and its overall strategy. Operations budgeting, on the other hand, involves the day-to-day financial planning and decision-making that keeps the business running smoothly. Master planning can refer to a variety of different types of planning, but it typically involves planning for a specific project or initiative, rather than the overall direction of the company. Capital budgeting is a specific type of financial planning that deals with major investments and expenditures, such as purchasing new equipment or opening a new location.

Planning Concerned with Long-Range Decisions Such as Defining the Scope