Organisational Ethics, Team Working, and Marketing Practices Quiz
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Questions and Answers

What is the primary purpose of strategic planning?

  • To conduct market research for short-term decision making
  • To handle day-to-day operations of the business
  • To set long-term goals and objectives for an organization (correct)
  • To manage interpersonal relationships within the organization
  • Why is strategy formulation important for businesses?

  • To create long-term plans exclusively
  • To align the organization with its environment and stakeholders (correct)
  • To focus solely on internal organizational dynamics
  • To address immediate operational issues
  • What are the key challenges faced by organizations in implementing effective strategic planning?

  • Overestimating the importance of day-to-day operations
  • Neglecting to consider the impact on consumers and producers
  • Underestimating the influence of external factors (correct)
  • Focusing too much on long-term goals and neglecting short-term objectives
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