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Strategic Planning Quiz

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Questions and Answers

What is strategic planning?

An annual assessment of shareholder satisfaction

The ongoing process of documenting a business's intended direction (correct)

A one-time meeting to discuss business goals

A quarterly review of organizational resources

What is the primary purpose of strategic planning?

To create a one-time business strategy

To ensure goals are backed by data and sound reasoning (correct)

To prioritize efforts without aligning shareholders and employees

To allocate resources without considering organizational goals

How much time do 48 percent of leaders spend discussing strategy each month?

Two days

More than three days

Less than one day (correct)

One week

What does the text emphasize about strategic planning?

It is an ongoing process Signup and view all the answers

What percentage of organizations fail to meet at least half of their strategic targets?

48% Signup and view all the answers

What are some benefits of strategic planning for an organization?

Strategic planning helps prioritize efforts, allocate resources effectively, align shareholders and employees on the organization’s goals, and ensure those goals are backed by data and sound reasoning. Signup and view all the answers

What percentage of leaders spend less than one day per month discussing strategy, according to research from Bridges Business Consultancy?

48 percent of leaders spend less than one day per month discussing strategy. Signup and view all the answers

How does the text describe strategic planning?

The text describes strategic planning as the ongoing organizational process of using available knowledge to document a business's intended direction. Signup and view all the answers

Why is it important to highlight that strategic planning is an ongoing process?

It's important to highlight that strategic planning is an ongoing process to emphasize that it is not a one-time meeting. Signup and view all the answers

According to the text, what must take place before an organization can reap the rewards of its business strategy?

Planning must take place to ensure its strategy remains agile and executable. Signup and view all the answers

Strategic Planning Quiz

Choose a study mode

Podcast

Questions and Answers

What is strategic planning?

What is the primary purpose of strategic planning?

How much time do 48 percent of leaders spend discussing strategy each month?

What does the text emphasize about strategic planning?

What percentage of organizations fail to meet at least half of their strategic targets?

What are some benefits of strategic planning for an organization?

What percentage of leaders spend less than one day per month discussing strategy, according to research from Bridges Business Consultancy?

How does the text describe strategic planning?

Why is it important to highlight that strategic planning is an ongoing process?

According to the text, what must take place before an organization can reap the rewards of its business strategy?

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