________ planning refers to the selection of opportunities defined in terms of products and markets, and the commitment of resources, both human and financial, to achieve these objectives.

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Strategic planning involves identifying long-term goals and objectives for an organization and determining the necessary resources and actions to achieve those goals. This includes choosing which products or services to offer and which markets to target, as well as allocating resources such as funding and staff to meet those objectives. Operational planning, on the other hand, focuses on day-to-day activities and processes to support the strategic plan. Functional planning refers to the planning and coordination of specific departments or functions within an organization, and accommodative planning is a reactive approach to addressing changes or unexpected events.

________ Planning Refers to the Selection of Opportunities Defined in Terms