The first step in the planning process is determining goals. What is the next step?
A) Developing a strategic mission
B) Developing a comprehensive strategy
C) Developing an array of tactics
D) Developing an operational plan
E) Developing a functioning budget
Answer: B
Explanation: B) Planning begins when managers determine the firm's goals; next, a comprehensive strategy is developed. After that, tactical and operational plans for implementing the strategy are set.
You might also like to view...
Suppose Redbus, a player in the small car market, is planning to launch its new range of hybrid cars. It decides to estimate the future demand for its new car before launching it in the market
If interviewing consumers is not practical, what alternative technique might it resort to?
The accounting records of Golden Company showed cash of $15,250 at June 30. The balance per the bank statement at June 30 was $15,125
The only reconciling items were deposits in transit of $3,200, outstanding checks totaling $4,100, an NSF check for $1,000 returned by the bank which Golden had not yet charged back to the customer, and a bank service charge of $25. The preparation of the bank reconciliation should indicate that Golden's adjusted cash balance at June 30 is: A. $14,475. B. $15,375. C. $14,225. D. $15,525.