When a CEO decides to set up a new business unit in another country, he makes a/an: a. Strategic plan b. Tactical plan c. Operational plan d. Short term plan

Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
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When a CEO decides to set up a new business unit in another country, he makes a/an:
a.
Strategic plan
b.
Tactical plan
c.
Operational plan
d.
Short term plan
Expert Solution
Step 1

Option D is incorrect,

The reason is that short-term planning focuses on the present and it helps to set specific goals. Short-term planning gives a clear idea of the business and it is even more important than long-term objectives. It provides a specific path to achieve long-term goals. It brings effective results and helps to analyze the future of the business.

Shor-term planning should be specific, realistic, and consistent for setting a new business unit.

 

Option B is correct,

The reason is that a tactical plan is essential for short-term goals. A tactical plan breaks down the plan into short-term objectives.

 

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