CBA Strategic Planning

Question 1

What is the primary purpose of strategic planning in business?

Accepted Answer

Set long-term goals and direction

Answer

Manage day-to-day tasks

Answer

Create employee benefits

Answer

Oversee vacation policies

Question 2

Which analysis tool is commonly used in strategic planning?

Accepted Answer

SWOT analysis

Answer

ROI calculator

Answer

Expense tracker

Answer

Gantt chart

Question 3

What role do mission and vision statements play in strategic planning?

Accepted Answer

Guide strategic direction and goals

Answer

Outline job responsibilities

Answer

Forecast product demand

Answer

Define daily operations

Question 4

Why is environmental scanning important in strategic planning?

Accepted Answer

To adapt to external changes and opportunities

Answer

To measure daily sales

Answer

To track internal promotions

Answer

To reduce training expenses

Question 5

Which of the following is a key element of a strategic plan?

Accepted Answer

Strategic objectives

Answer

Weekly timesheets

Answer

Customer survey forms

Answer

Expense reimbursements

Question 6

What is a benefit of having a well-defined strategic plan?

Accepted Answer

Aligns the organization around shared goals

Answer

Reduces tax obligations

Answer

Increases daily task delegation

Answer

Eliminates need for budgeting