Strategic planning can be defined asMultiple Choicean action plan to achieve specific long-term goals and objectives.how each functional area will achieve its specific goals and objectives.an action plan to achieve specific operational and tactical goals.a procedure for allocating resources to appropriate functions in the organization.taking big risks to maximize current period benefits.

Strategic planning provides organizations a way to:Multiple choice question.meet requirements from suppliers.achieve specific long-term goals and objectives for an organization.reduce long-term goals and focus on short-term objectives.match organization objectives to the objectives of competitors.

Strategic planning:Question 18Select one:a.does not provide a workable solution and does not meet the stated objectives.b.is long range planning to set organizational goals, objectives, and policies to determine strategies, tactics, and programs for achieving them.c.is a one time plan developed for a single occasion or purpose.d.cannot be adapted to a change in the situation

Strategic Planning is systematic process of envisioning a desired future, and translating this vision into broadly defined goals or objectives and a sequence of steps to achieve them.Question 2Answera.true\'b.FALSE\'c.sured.unsure

One important activity of strategic managers is strategic planning. Describe fourcharacteristics of this activity.

Strategic planning Is an important constituent of strategic management. in light of the same explain the meaning of strategic plånnlng. Also, outline the characteristics of strategic planning.