ECONOMICS
DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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+5 years
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12 monthsDaily
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12 months
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None of the above
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Detailed explanation-1: -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-2: -Strategic decisions are long-term decisions. Administrative decisions are taken daily.
Detailed explanation-3: -Performance goals of an organization, intended to be achieved over a period of five years or more.
Detailed explanation-4: -The timeframe for strategic plans is often 3-5 years. Strategic planning for timeframe over 5 years can be problematical because it is difficult to see that far into the future.
Detailed explanation-5: -Write an executive summary. Detail a mission statement. Include a SWOT analysis. Write your goals. Include business metrics. Describe your target audience. Write an industry analysis. Include a detailed marketing plan. More items •11-Aug-2021