- 1 Marks
Question
Which of the following involves setting overall objectives and developing broad plans, mostly over a long-term?
A. Long-term decision
B. Strategic planning
C. Tactical planning
D. Operational planning
E. Short-term decision
Answer
B. Strategic planning
Explanation: Strategic planning refers to setting long-term goals and determining broad strategies to achieve them. It is focused on the future direction of an organization and involves defining objectives, priorities, and allocating resources over the long term, typically beyond a year. This is different from tactical and operational planning, which are more short-term and specific.
- Tags: Decision Making, Long-Term Planning, Strategic Planning, Tactical Planning
- Level: Level 1
- Topic: Forecasting Techniques-Analysis, Moving Averages
- Series: MAY 2024
- Uploader: Dotse