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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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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When developing plans to meet organisation and customer needs what are six reasons for presenting the outcome of the planning process to appropriate persons in the organisation and obtaining their feedback.
Effective planning is a crucial aspect of achieving success in various facets of life, be it in personal endeavors, professional projects, or long-term goals. Planning involves the systematic organization of ideas, resources, and actions to ensure a clear roadmap towards the desired outcome. It requires a careful consideration of the objectives, available resources, potential obstacles, and the most efficient means to overcome them. Whether it's a business strategy, an academic pursuit, or a personal development plan, a well-thought- out plan serves as a guiding framework that enhances productivity, minimizes uncertainties, and fosters a sense of direction. In business, planning involves market analysis, financial forecasting, and operational strategies to optimize efficiency and achieve sustainable growth. Similarly, in academics, students benefit from planning their study schedules, setting realistic goals, and allocating time for research, ensuring a structured approach to…
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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