Strategic Planning Quiz
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Questions and Answers

What is the main purpose of strategic planning?

  • Adapting the firm to take advantage of opportunities
  • Setting up short-term plans for survival
  • Identifying long-term goals and objectives for an organization (correct)
  • Dealing with current business operations
  • What does a strategic plan enable a company to do?

  • Adapt to current business challenges
  • Focus solely on short-term survival
  • Create short-term business strategies
  • Achieve long-term goals and objectives (correct)
  • How does a strategic plan differ from annual and long-range plans?

  • It involves adapting the firm to take advantage of opportunities
  • It focuses on short-term survival
  • It sets the stage for the rest of the planning (correct)
  • It deals with current business operations
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