**The table contains the characteristics of different types of organizational plans. Use your knowledge of organizational plans to answer the questions about the table.**| Characteristic | A | B | C ||----------------|--------------------------------------------------|----------------------------------------------|-----------------------------------|| Set by | Board of directors, top management | Upper, middle management | Middle, lower-level managers || Time frame | Long-range | Intermediate | Short-range || Focus | Sources of competitive advantage | Strategic business units | Departmental activities || Scope | General | Somewhat specific | Specific and concrete |**Questions:**1. Which column best describes the characteristics associated with strategic plans? - ○ A - ○ B - ○ C2. Given your knowledge of organizational plans, which type of plan is described in column B? - ○ Strategic - ○ Tactical - ○ Operational3. Given your knowledge of organizational plans, which type of plan is described in column C? - ○ Strategic - ○ Tactical - ○ Operational

Strategic planning is a long-term planning process which is develop by top-level management, board…

Answered: The table contains the characteristics…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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The tools presented in the strategy formulation framework are applicable to all sizes and types of organizations and can help strategists identify, evaluate, and select strategies. Which of the below tools, used in the process, allows strategists to evaluate alternative strategies objectively based on previously identified external and internal critical success factors? a. SPACE Matrix b. Internal-External (IE) Matrix c. SWOT Analysis d. Quantitative Strategic Planning Matrix
b. Why in planning a business a strategy is needed in planning from the beginning until the business has been running, explain. c. Explain what ideas can arise related to today's technological advances
Determining an organization's objectives and deciding how to accomplish them is a management function known as: A) Near-shoring B) Staffing C) Crowdsourcing D) Planning. E) Factoring,
in this chapter, we talked about how firms do strategic,functional, and operational planning. Yet some firmsseem to be successful without formal planning. Doyou think planning is essential to a firm~ success? Howmight planning hurt an organization? Under what circumstances do you believe that formal planning is andis not important to an organization?
are developed and used to implement strategic plans. * Tactical plans. O Visions. O Operational plans. Missions.
Is there any relationship between the four functions of management? Explain your answer.
4- Identify the one that is basis of planning. a. Purpose b. Mission c. Vision d. Management
14. Describe how strategic planning is different from long- range planning. 15. Review Figure 9.11. Explain the relationship between the hierarchy of planning and the three levels of management.
SWOT, Strengths, Weaknesses, Opportunities, Threats. 1. Produce a new business idea. 2. Conduct a SWOT analysis for the new business idea developed 3. Identify a minimum of 5 items for each component in the SWOT analysis.
Strategic management The strategy has its own "lingo" that we should know. Entry at least two words and include a definition +very short explanation Example: Strategy a detailed plan for achieving success in situations such as war, politics, business, industry, or sport, or the skill of planning for such situations. It means that is the activity we do while planning for something that where want to succeed.
Within the context of strategy formulation, what is the firm in the business of doing is considered as iii. assessing core competencies 11. what a firm does better than anyone else iv defining a primary task i the purpose of the firm V. positioning the firm OO D D

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