BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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More than five (5) years
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One (1) month to a year
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Two (2) to three (3) years
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Two (2) months less than four (4) years
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Detailed explanation-1: -How long is the long term in strategic thinking approximately? Explanation: In strategic thinking, more than five years is long-term. Most strategic plans look ahead about three to five years. Explanation: When a company buys another company, it means an acquisition.
Detailed explanation-2: -Strategic planning typically represents mid-to long-term goals with a life span of three to five years, though it can go longer. This is different than business planning, which typically focuses on short-term, tactical goals, such as how a budget is divided up.
Detailed explanation-3: -In strategic thinking, more than 5 years long is the long term, approximately. Most strategic plans look about 3 to 5 years into the future.
Detailed explanation-4: -Long-term objectives represent the results expected from pursuing certain strategies. Strategies represent the actions to be taken to accomplish long-term objectives. The time frame for objectives and strategies should be consistent, usually from 2 to 5 years.