When a CEO decides to set up a new business unit in another country, he makes a/an:a.Strategic planb.Tactical planc.Operational pland.Short term plan

Answered: When a CEO decides to set up a new…

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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Question

When a CEO decides to set up a new business unit in another country, he makes a/an:

Strategic plan

Tactical plan

Operational plan

Short term plan

Expert Solution

Step 1

Option D is incorrect,

The reason is that short-term planning focuses on the present and it helps to set specific goals. Short-term planning gives a clear idea of the business and it is even more important than long-term objectives. It provides a specific path to achieve long-term goals. It brings effective results and helps to analyze the future of the business.

Shor-term planning should be specific, realistic, and consistent for setting a new business unit.

Option B is correct,

The reason is that a tactical plan is essential for short-term goals. A tactical plan breaks down the plan into short-term objectives.

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