Business Strategic Planning

When a business sets goals and develop a plan to achieve them, this is called...

• Goal setting

• Strategic Planning

• Entrepreneur

• Planning for the future

When businesses look at the present and develops strategies for improvement in the near future, this is called...

• Long-term planning

• Strategic plan

• Short-term planning

• Improvement plan

When a business develops overall goals of the company, set for 4-5 years in the future is called...

• Short-term planning

• Long-term planning

• Strategic plan

• Goal setting

True or False - When looking at long-term planning, the goals will align with the business' mission and vision statements.

• True

• False

A short statement of why the business exists and what the business' overall goal is called...

• Goal setting

• Strategic planning

• Vision statement

• Mission statement

An inspirational statement of the business' ideal future is called...

• Mission Statement

• Vision Statement

• Strategic plan

• Short-term goal

An example of short-term planning would be...

• Improving the quality of the product

• Training employees

• Competitive advantage

• All of the above

An example of long-term planning would be...

• Goals to increase profits

• Goals related to the expansion of the business

• Goals that focus on giving back to the community

• All of the above

True of False - Short-term goals are the steps necessary to achieve long-term goals.

• True

• False

Adjusting the business and product according to customer feedback is an example of...

• Short-term planning

• Long-term planning

• Vision statement

• Mission statement