ENTREPRENEURIAL PLANNING
BUSINESS PLAN DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -A strategic plan should not be confused with a business plan. A business plan is about setting short-or mid-term goals and defining the steps necessary to achieve them. A strategic plan is typically focused on a business’ mid-to long-term goals and explains the basic strategies for achieving them.
Detailed explanation-2: -The term strategic planning is essentially synonymous with strategic management.
Detailed explanation-3: -Planning for the company as a whole is known as corporate planning. It lays down objectives, strategies and policies for the entire organisation. It is also known as strategic planning.
Detailed explanation-4: -Formal strategic planning should develop clear and rigid plans for the organization to implement is a false statement.