Strategic plans are typically ________ year overall strategies for achieving long-term growth, sales, and positioning goals.

Question

Quizplus · Accepted Answer

Strategic plans are usually developed for a period of 3-5 years, as this allows enough time for the implementation of strategies while also being flexible enough to adapt to any changes in the market or industry. Longer-term plans (such as 10-15 years) may be too inflexible and less responsive to changes, while shorter-term plans (such as 1-2 years) may not allow for significant growth and may require too frequent modifications. Therefore, 3-5 year plans strike a good balance between stability and flexibility.

Strategic Plans Are Typically ________ Year Overall Strategies for Achieving