Which statement concerning strategic planning is correct?
A)Strategic planning should be conducted once a year.
B)Strategic plans should emphasize pricing.
C)Strategic plans should be adhered to despite their success/failure.
D)Strategic planning is a continuous process throughout the year.

Question

Quizplus · Accepted Answer

Strategic planning is not a one-time activity, but rather a continuous process that requires ongoing monitoring, evaluation, and adjustment in response to changing circumstances. Organizations that engage in continuous strategic planning are better able to adapt to shifting environmental factors and maintain a competitive advantage. Conducting strategic planning once a year (A) is not sufficient for most organizations. While pricing (B) is certainly an important aspect of strategic planning, it should not be the sole focus. Finally, if a strategic plan is not working, it should be revised or abandoned, rather than adhered to regardless of its success or failure (C).

Which Statement Concerning Strategic Planning Is Correct