Chris is part of the top management of a bank. He formulates a plan on how the bank will deal with its competitors and serve its customers for the next five years. In this scenario, Chris has most likely contributed to developing the bank's _____.
A) strategic plan
B) single-use plan
C) tactical plan
D) operational plan

Question

Quizplus · Accepted Answer

Chris's plan for the next five years is focused on long-term goals and objectives, which is the main characteristic of strategic planning. Strategic planning is typically done by top-level management and involves making decisions on how an organization will achieve its long-term goals and objectives. Single-use plans are short-term plans that are designed to address a specific situation or problem. Tactical plans focus on how to implement specific strategies or initiatives to achieve goals, while operational plans are focused on day-to-day tasks and activities.

Chris Is Part of the Top Management of a Bank