Which of the following is the best reason for why strategic planning is still important today?

A Without a formal strategic plan a company cannot expect to compete effectively
B Without a strategic plan an organization can drift without purpose or definition
C Without it, companies would exist without cause or co-ordination
D Because of slower economic growth, globalization and technological change

Correct Answer: Because of slower economic growth, globalization and technological change

Strategic planning is still important today because A critical success factor (often abbreviated “CSF”) may sound complicated, but it's actually a pretty simple concept. Strategic planning is a process in which organizational leaders determine their vision for the future as well as identify their goals and objectives for the organization.
Bissoy MCQ
#Management #Strategic Management

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B growth component
C price recovery component
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A Anxiety regarding jobs
B Lack of necessary strategic resources
C Lack of knowledge
D Poor strategic leadership
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A It has little impact on organizational performance
B It is involved in many of the decisions that managers make
C Most organizations do not change
D Organizations are composed of similar divisions and functions
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A Organizational goals
B Critical success factors
C Information engineering
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Which of the following statements is false? Formal strategic planning
A implies determined actions for achieving objectives
B is a time consuming process
C should develop clear and rigid plans for the organization to implement
D is most applicable in stable environments
Which of the following is true for small businesses in relation to strategic planning?
A It belongs in all organizations
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A Understanding the needs and expectations of stakeholders
B Understanding competencies
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D Understanding how to plan
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A 800
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