D)It shows that the senior management support the project. Which of the following is true of operational planning? In this process, the formulation of strategy is separate from implementation. B)It is a document prepared to monitor the progress of the project. A) It deals with maintaining the company's current business ventures. Operations strategy is concerned with setting broad policies and plans for using the resources of the firm to best support the firm's long-term competitive strategy. Strategic planning became prominent in corporations during the 1960s and remains an important aspect of strategic management. The vision statement answers the question, “What do we want to become? Senior Executives Formulate And Implement Strategic Plans Entirely Themselves. ANS: E This chapter emphasizes that strategic planning is an ongoing process that needs creativity and top- management involvement. It implies that a firm's strategic planning process involves explicit systematic. C)It documents the experiences and knowledge gained during the project. Vision statements say where your organization is going, hence why the statement is important for the strategic plan. To address these concerns, the following seven steps will guide the creation of a successful strategic planning process. The strategic planning process is started by assessing the external environment. Formal strategic planning should develop clear and rigid plans for the organization to implement is a false statement. The strategic planning process should be a learning process for all managers and employees. A. C. B. E) Strategic planning involves identifying segments of consumers with identical preferences. Question: Which Of The Following Is True Of Strategic Planning? All of the following statements are true, except: SBU stands for Strategic Business Unit. 1. A. A. * Monitoring efficiency 2. B. c. Effective strategic planning can aid a retailer in contending with competitors. A. Multiple Choice. It is performed by top-level managers. “ It provides a clear sense of the future and the actions needed to get there. Strategic planning should be an annual exercise on a day specially designated for it. State whether each of the following statements is TRUE or FALSE. A short-term commitment of resources is required by strategic planning. Information flows both ways in the process, from the upper management to the lower management and also the other way around. The chief executive officer is a strategic manager responsible for positioning the organization for the future. Strategic planning is rarely used in the current environment of fast change because it does not allow for flexibility. True False Organizations should have a strategic plan, regardless of whether or not they are ready to plan. Strategic planning is rarely used in the current environment of fast change because it does not allow for flexibility. Answer: True Which of the following statements is true of top-down strategic planning? Strategic management is a process completed by top managers. A. Frontline managers lead the organization’s efforts in crafting the strategic plan. Strategic planning is just an annual exercise. B. None of these statements about strategic planning are true. A Vision Statement is a statement (typically 2-3 sentences) that gives the reader (and more importantly, the organization) a mental picture of what the organization hopes to … A. Which of the following statements is true of tactical planning? Explain whether the following statement is true or false. True False Four key criteria for building a strategic plan … It is designed to determine annual budgets and long-range strategic goals. A process consisting of determining objectives, strategic actions to achieve those objectives, the implementation of desired strategy, and the monitoring of that strategy. Which of the following statements is true of a project charter? B)Strategic planning focuses on the firm's internal environment rather than the external environment. a. A process consisting of determining objectives and strategic actions to achieve those objectives. It is performed to substitute the strategic planning process in large organizations. Which of the following statements is true about Strategic Planning? It may also extend to control mechanisms for guiding the implementation of the strategy. 40) Which of the following statements about strategic planning in Arab organizations is not true? 30. Multiple Choice Frontline Managers Develop Strategic Plans. 1. Even though useful, strategic planning has been cast aside by corporate America since the early 1990s. C) The focus of strategic planning is to define a game plan for long-run survival and growth. 2. A)Strategic planning deals with maintaining the company's current business ventures. It is a long-term plan … D) The strategic plan is a statement of an organization's purpose. (A) True (B) False Answer : (B) MULTICHOICE 31. Subordinates must persuade management to accept their demands. C. The board of directors plays a minimal role in shaping an organization’s strategic plan. It identifies specific plans and procedures. A)It generally includes the work breakdown structure. d. D. Which of the following statements about strategic planning is true? It is conducted exclusively by the supervisory personnel. It is focused on the master production schedule (MPS) and the material requirements plan. Formal strategic planning is the most sophisticated form of plan- ning. Strategic planning is a process of looking into the future and identifying trends and issues against which to ... in which case the following best practices can help structure the thinking. 3. Which of the following statements about strategic planning and strategic management is true? Vision statements play the role of a strategic ‘north star,’ providing focus and long- C. B. D. Strategic Plan The strategic plan aligns with the mission statement to position the association to make progress toward the vision. 1. C. Which of the following is an incorrect statement regarding strategic planning? Answer: True; The terms strategic management and strategic planning are synonymous in this text. B. Which of the following statements is not true when describing a successful strategy? All of the following are ways that marketing plays a key role in the company’s strategic planning EXCEPT: a. marketing provides a guiding philosophy. B) It focuses on the firm's internal environment rather than the external environment. This document outlines the American Counseling Association’s strategic plan to address issues of critical and strategic importance over the course of four years: 2018 - 2021. Please circle either True or False for the following statements. C. It involves primarily personnel development and acquisition of long-lead-time materials. Which of the following statements is not true about operations strategy? Answer: False; The decision to expand or diversify operations is a strategy-formulation issue. True False Strategic planning is the same thing as long-term planning. C. A. It helps integrate the plans of marketing and production. It translates broad strategic goals into specific goals. Sound strategic planning is based on a trial-and-error method of execution. An SBU can not be planned for separately from the rest of the company. D. Strategic information systems are defined in terms of the purpose they serve E. All of the above are true 23 Which of the following statement(s) about strategic information systems is (are) not true? Which of the following statements about strategic planning and strategic management is true? 3. (B) Strategic decisions require … A. 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