5 Key Steps to the Strategic Planning Process Quiz
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Question 1 of 4
1. QuestionCategory: Business Management and Strategy
Match the 5 Keys to their proper descriptions.
- Analysis is a significant step in the strategic planning process of any organization. In this stage, the management of an organization identifies the current position of the business and how the organization got to that position.
- In this stage, a company hones in on its strengths and identifies where that strength is best utilized to achieve organizational goals.
- A strategic plan is not complete until it has SMART goals and targets. A good strategic plan is precise, concise and easily understandable by all members of an organization’s management.
- There are always different ways to achieve an outcome just as there are different ways to cook a meal. After identifying the goals of the organization, managers can then focus their efforts on deciding on a plan of action.
- There are many reasons to re-evaluate a strategic plan, which is why the review step should always be in the strategic planning process of any enterprise. Reviewing allows management to determine whether their measures are effective and if not, to change them.
Determine The Organization’s Position
Identify what is Important to the Firm
Set Specific Goals and Targets
Review and Adapt
Question 2 of 4
2. QuestionCategory: Business Management and Strategy
Which level of planning should include a SWOT analysis?CorrectIncorrect
Question 3 of 4
3. QuestionCategory: Business Management and Strategy
What is the main difference between directing people and leading them?CorrectIncorrect
Question 4 of 4
4. QuestionCategory: Business Management and Strategy
Creating KPIs for each job function and conducting performance evaluations is an example of which managerial role in the P-O-L-C framework?CorrectIncorrect