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What is the primary goal of strategic planning in a business environment?

Practice Questions

Q1
What is the primary goal of strategic planning in a business environment?
  1. To maximize short-term profits
  2. To ensure long-term sustainability and growth
  3. To reduce employee turnover
  4. To increase product variety

Questions & Step-by-Step Solutions

What is the primary goal of strategic planning in a business environment?
  • Step 1: Understand that strategic planning is a process used by businesses.
  • Step 2: Recognize that the main purpose of this process is to set goals for the future.
  • Step 3: Learn that these goals help the business grow and succeed over time.
  • Step 4: Know that strategic planning involves looking at the current business environment.
  • Step 5: Realize that businesses need to align their resources (like money and people) with their goals.
  • Step 6: Conclude that the ultimate aim is to ensure the business can continue to operate and thrive in the long run.
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