An organization's strategic plan consists of the actions which management plans to take in the near future. True or false? Explain and justify your answer.

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Quizplus · Accepted Answer

Developing a strategic vision and mission, Strategic Management, and crafting a strategy are basic direction-setting tasks. They map out where a company is headed, its purpose, the targeted strategic and financial outcomes, the basic business model, and the competitive moves and internal action approaches to be used in achieving the desired business results. Together, these elements constitute a strategic plan for coping with industry conditions, outcompeting rivals, meeting objectives, and making progress toward aspirational goals. Typically, a strategic plan includes a commitment to allocate resources to the plan and specifies a time period for achieving goals (usually three to five years).

An Organization's Strategic Plan Consists of the Actions Which Management