Compare and contrast strategic planning and operational planning
What will be an ideal response?
Strategic planning is the managerial decision process that matches the firm's resources and capabilities to its market opportunities for long-term growth. In a strategic plan, top management defines the firm's purpose and specifies what the firm hopes to achieve. Operational planning focuses on the day-to-day execution of the functional plans and includes detailed annual, semiannual, or quarterly plans. Operational planning is done by supervisory managers. Strategic planning is big picture, while operational planning is nuts-and-bolts.
You might also like to view...
The end-of-period work sheet is used to facilitate
a. preparing financial statements; b. making corrections; c. closing permanent accounts; d. analyzing transactions; e. comparing entries
Which of the following is not a substantive test of details for dividends?
a. Calculation of the dividend payout ratio. b. Examination of the minutes of the board of directors meetings for authorization of the dividend per share amount. c. Examination of the minutes of the board of directors meetings for the dividend record date. d. Agreement of the dividend amount with the payment in the cash disbursements journal.
Usually, there are few research situations that have some similarities to past situations
Indicate whether the statement is true or false
A(n) ________ is an internal corporate communication network that uses Internet technology to link company departments, employees, and databases
A) social network B) affiliate program C) horizontal user network D) intranet E) marketing decision support system