Final answer:
Wallace, as CEO, is deeply involved in setting long-term goals and ensuring that the company's operations align with its strategic plan through activities related to strategic planning and monitoring control processes.
Step-by-step explanation:
The question you're asking relates to the roles and responsibilities of a CEO in the context of corporate management. When we talk about Wallace's level of involvement in strategic planning and monitoring control processes, we're touching on critical aspects of executive leadership. Strategic planning involves setting long-term goals and determining the best courses of action to achieve these goals. It is a process that defines the direction in which an organization needs to move to be successful in the future. Monitoring control processes, on the other hand, involves ensuring that the company's operations align with its strategic plan and that resources are used efficiently. Wallace uses his expertise to guide Lustig Industries towards its strategic objectives and to make sure that the company stays on course.
The activities that Wallace engages in as CEO, such as participating in strategic planning sessions and overseeing control processes, are pivotal to organizational success. Through strategic planning, he would be able to identify key opportunities and threats in the environment, and determine how the company should respond. By monitoring control processes, he ensures that the execution of strategies is in line with the agreed-upon objectives and can institute corrective measures when deviations are observed. These activities not only help in guiding the company towards its long-term vision but also in managing day-to-day operations more effectively.