Answer = b: You have to start by deciding how you will work through the process. For example, you want to go through an assessment of your strengths, weaknesses, opportunities, and threats.
In what phase of strategic planning does identification of strengths and weaknesses take place?
Organizing
Answer = c: Assessment is taking a hard look at yourself in relation to the external and internal environment.
A good mission statement should:
Be extremely specific for measurement
Answer = d: The mission statement should express the overall direction of the organization.
Each of the following is important for developing strategic objectives except:
Tradeoffs between upper and lower management
How the organization got started
Review of available resources
Strengths and weaknesses of the organization
Answer = b: How the organization was founded in the past is probably not relevant to the current and future of the organization.
Marco Corporation has included the following statement within its strategic plan: By December 31st, the Production Department will re-align the Eastern Distribution System to better serve markets in Canada. This statement is an example of a:
Strategic Goal
Answer = b: Operating plans will get quantified in terms of budgets and people will be held accountable for execution of their operating plans and budgets.
To help manage unplanned events or "what if" type events, Operating Plans should include:
Approvals by Shareholders
