Which type of planning should be used in very unstable and uncertain external environments?A) short-termB) long-termD) there is no point in planningC) operationalWhich of the following is the correct sequence of steps in the strategic management process?A) strategy selection - SWOT analysis - strategy implementationB) strategy implementation - SWOT analysis - strategy selectionC) SWOT analysis - strategy implementation - strategy selectionD) SWOT analysis – strategy selection - strategy implementationWhich part of an organisation's external environment does PESTEL analysis cover?A) micro environmentB) macro environmentC) both micro and macro environmentsD) neither of the two

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Principles of Management

OER 2019th Edition

ISBN:9780998625768

Author:OpenStax

Publisher:OpenStax

Chapter9: The Strategic Management Process: Achieving And Sustaining Competitive Advantage

Section: Chapter Questions

Problem 7CRQ: What are the strategic planning time frames? How do they work together?

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Management Effective planning is the compass that navigates the course of success in any endeavor. It's the meticulous process of outlining objectives, envisioning strategies, and organizing resources to achieve a desired outcome. Whether in personal aspirations or professional pursuits, a well-crafted plan serves as a roadmap, providing direction, structure, and clarity amidst uncertainty. It involves assessing risks, anticipating challenges, and devising contingencies to adapt to unforeseen circumstances. Ultimately, planning isn't just about setting goals, it's about orchestrating the steps needed to turn those goals into reality. How do you prioritize tasks when planning to ensure that the most important ones get the attention they deserve?

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Which type of planning should be used in very unstable and uncertain external environments? A) short-term B) long-term D) there is no point in planning C) operational