16 Questions
Prioritizing objectives in the strategic planning process should not align with the company's mission and vision.
False
Strategic planning process involves determining your strategic position, prioritizing objectives, developing a plan, executing and managing the plan, and reviewing and revising the plan.
True
After developing the strategic plan, the next step is to review and revise the plan.
True
Executing the strategic plan involves only communicating the plan to the organization.
False
Knowing your current position in the market is crucial before prioritizing objectives in the strategic planning process.
True
It is not necessary to revise the strategic plan once it has been developed.
False
Strategic planning process involves 6 steps.
False
Developing a plan is the third step in the strategic planning process.
True
After determining your strategic position, the next step is to execute and manage the plan.
False
The strategic planning process helps small businesses effectively utilize their resources for maximum benefit.
True
Prioritizing objectives should align with the company's mission and vision.
True
It is not important to review and revise the strategic plan after it has been developed.
False
Developing a plan in the strategic planning process is optional.
False
Executing and managing the plan is the final step in the strategic planning process.
False
Knowing your current position in the market is irrelevant in the strategic planning process.
False
Once you have identified your current position in the market, it is time to prioritize your objectives.
True
Learn about the importance of strategic planning in small businesses and the key steps involved in the strategic planning process. Explore how small business organizations identify and utilize resources effectively for maximum benefit.
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