Question

Long-range planning to set corporate goals and develop strategies for achieving them is called:

a) Tactical Planning
b) Operational Planning
c) Strategic Planning
d) Contingency Planning

Answer 1

Strategic planning is the process of setting long-term goals and developing strategies to achieve them.

Step-by-step explanation:

The correct answer is c) Strategic Planning.

Strategic planning is the process of setting long-term goals and developing strategies to achieve them. It involves analyzing the current situation, identifying opportunities and challenges, and formulating a plan that aligns with the overall vision and direction of the organization.

For example, a company may engage in strategic planning to determine its market position, target customer segments, and competitive advantage. This helps guide decision-making and resource allocation to achieve the desired outcomes.