Final answer:
False. Managers who are too busy to engage in strategic planning should not wait until they have more free time in their schedules. Strategic planning is essential for setting goals, making informed decisions, and achieving long-term success.
Step-by-step explanation:
False. Managers who are too busy to engage in strategic planning should not wait until they have more free time in their schedules. Strategic planning is a crucial process for managers to set goals, make informed decisions, and align resources effectively. It helps them anticipate and adapt to changes in the business environment, identify opportunities and threats, and develop strategies to achieve long-term success.
By neglecting strategic planning due to a busy schedule, managers may miss out on important opportunities, fail to address potential risks, and make decisions based on short-term considerations rather than long-term objectives.
For example, let's consider a retail manager who is too busy dealing with day-to-day operational tasks and doesn't have time for strategic planning. As a result, they may fail to recognize and adapt to changing consumer trends, leading to a decline in sales and market share.