Podcast
Questions and Answers
A small business is typically defined as having more employees and higher revenue compared to larger firms.
A small business is typically defined as having more employees and higher revenue compared to larger firms.
False
Small businesses are usually publicly owned by a large group of shareholders.
Small businesses are usually publicly owned by a large group of shareholders.
False
Strategic planning helps define the direction a company will take in the next five to seven years.
Strategic planning helps define the direction a company will take in the next five to seven years.
False
According to the Department of Trade and Industry, small businesses make up less than 80% of enterprises in the Philippines.
According to the Department of Trade and Industry, small businesses make up less than 80% of enterprises in the Philippines.
Signup and view all the answers
One of the advantages of a small business is limited access to capital.
One of the advantages of a small business is limited access to capital.
Signup and view all the answers
Quick reaction to changing market conditions is considered an advantage of small businesses.
Quick reaction to changing market conditions is considered an advantage of small businesses.
Signup and view all the answers
Strategic planning helps small business organizations to identify their available resources.
Strategic planning helps small business organizations to identify their available resources.
Signup and view all the answers
The strategic planning process involves prioritizing objectives as the final step.
The strategic planning process involves prioritizing objectives as the final step.
Signup and view all the answers
Developing a plan is one of the steps in the strategic planning process.
Developing a plan is one of the steps in the strategic planning process.
Signup and view all the answers
Executing and managing the plan comes before determining the strategic position in the strategic planning process.
Executing and managing the plan comes before determining the strategic position in the strategic planning process.
Signup and view all the answers
The final stage of the strategic planning process is to review and revise the plan.
The final stage of the strategic planning process is to review and revise the plan.
Signup and view all the answers
One of the benefits of strategic planning is decreasing job satisfaction among employees.
One of the benefits of strategic planning is decreasing job satisfaction among employees.
Signup and view all the answers
