Business planning ________.

Question

Quizplus · Accepted Answer

Business planning is not only necessary for large organizations but for all types of organizations. It helps identify and build on the firm's strengths and enables managers to make informed decisions at all levels of the organization. The planning process considers both internal and external factors that affect the business and helps management to set goals and objectives for the future. It is an ongoing process that involves current and future planning issues, not just one or the other. Business planning is a critical step in ensuring the long-term success of any organization. Option C and D are incorrect as business planning is not solely based on the economy of the world, nor is it a meaningless phrase. Option A is incorrect as it is important for businesses of all sizes, not just large organizations.

Business Planning ________