Management And Marketing Practice Test

Which term describes the process of determining big goals and acquiring resources to achieve them?

Strategic Planning Contingency Planning Operational Planning Tactical Planning

Correct Answer:

Strategic Planning

Explanation:

Strategic planning is about setting long-term goals and aligning resources to reach them. It involves deciding the organization’s direction, defining mission and vision, and identifying major objectives, then allocating the necessary resources—such as capital, people, technology, and time—to pursue those objectives. This broad, future-focused process guides how budgets, programs, and initiatives are shaped across the whole organization. By contrast, contingency planning focuses on responses to unexpected events, operational planning covers day-to-day activities, and tactical planning translates strategy into specific actions at a departmental level.

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