Final answer:
Top management is responsible for developing c) strategic plans, which are long-term plans that set the overall direction and goals for an organization.
Step-by-step explanation:
The correct answer is c. strategic plans. Top management is responsible for developing strategic plans, which are long-term plans that set the overall direction and goals for an organization. These plans involve making decisions about the organization's mission, vision, and objectives, as well as determining the strategies to achieve those objectives.
For example, top management might develop a strategic plan that includes expanding into new markets, improving the company's competitive position, or diversifying its product offerings. Strategic plans often cover a period of three to five years and provide a roadmap for the entire organization to follow.