By what alternative term is a strategic plan frequently known?
Show answer Hide answer
Answer: A. long term plan
Explanation
A strategic plan outlines long-term organizational goals, making it synonymous with a long-term plan. Both terms describe comprehensive organizational roadmaps extending across multiple years of future operations. Executive leadership formulates strategic plans to secure sustainable competitive advantages over extended timeframes. Strategic planning involves scanning external environments and allocating resources to achieve overarching visions. Long-term plans typically span horizon periods ranging from three to ten operational years. Effective strategic direction aligns daily tactical actions with grand corporate mission statements.
Boards of directors review long-term strategic plans annually to ensure alignment with shifting market conditions. Investors examine corporate strategic initiatives to gauge future growth potential and financial stability. Public sector agencies also utilize long-term strategic plans to guide infrastructure development projects. Short term plans focus on immediate operational milestones rather than overarching strategic horizons. Choosing both options is incorrect because short term plans differ fundamentally from strategic ones. Declaring none of the above is wrong since the first option accurately equates strategic and long-term plans.
- Subject
- Business and Management
- Category
- Human Resource Management
- Topic
- —
- Difficulty
- medium
Related questions
Q1. What is the management technique called that emphasizes work method enhancement, observational analysis, and situational reviews __________?
Show answer Hide answer
Answer: B. scientific management movement
The scientific management movement emphasizes work method analysis, efficiency, and observational studies pioneered by figures like Taylor. Systematic observation of manual labor tasks allows industrial engineers to elim...
Q2. Through what mechanism can an organization's HR division establish an advisory relationship?
Show answer Hide answer
Answer: B. staff authority
Staff authority grants human resources departments the right to advise and support line managers. Specialized HR personnel provide expert counsel rather than exercising direct supervisory command over operations. Advisor...
Q3. How is an intentional and conscious breach of an enterprise's ethical code categorized?
Show answer Hide answer
Answer: A. misconduct
Misconduct describes an intentional and conscious violation of established enterprise behavioral standards and ethical codes. Employees who knowingly breach organizational policies commit acts of workplace misconduct pun...
Q4. What is the performance evaluation tool called that lists specific behavioral traits alongside scoring values _________?
Show answer Hide answer
Answer: A. graphic rating scale method
A graphic rating scale lists specific behavioral traits and performance dimensions alongside corresponding numerical scoring values to evaluate employee performance. Supervisors utilize these standardized rating forms to...
Q5. According to Edwin Flippo, what constitutes the immediate primary outcome resulting from a job analysis__________?
Show answer Hide answer
Answer: A. the job description
Edwin Flippo noted that job analysis primarily results in the creation of a comprehensive job description. Gathering detailed data about a role directly yields an outline of duties and responsibilities. The resulting job...
Q6. What is the automated system called that tracks performance continuously and distributes reports via email _________?
Show answer Hide answer
Answer: C. ongoing performance monitoring
Ongoing performance monitoring utilizes automated technological systems to track employee metrics and distribute scheduled reports. Continuous tracking mechanisms provide managers with real-time data regarding subordinat...