Final answer:
A plan that is updated annually to reflect changes in an organization's environment is known as a strategic plan.
Step-by-step explanation:
A plan that is updated and changed every year to take into account how an organization's external and internal environments have changed is known as a strategic plan.
Organizations often revise their strategic plans to ensure they remain relevant and effective in addressing both current circumstances and future objectives. This planning and organization process involves a deep analysis of an organization's strengths, weaknesses, opportunities, and threats (SWOT analysis), considering market dynamics, competitive landscape, and internal resources. The strategic plan is a living document that requires regular updates to maintain its alignment with the ever-evolving business environment and the organization's long-term goals.