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13) Which of the following involves adapting a firm to take advantage of opportunities in its...

13) Which of the following involves adapting a firm to take advantage of opportunities in its constantly changing environment? A) long-range planning B) short-range planning C) media planning D) strategic planning E) annual planning

14) Which of the following is the first step in strategic planning? A) set objectives and goals B) develop the business portfolio C) define the company mission D) plan marketing strategies E) identify threats and weaknesses

15) Which of the following is NOT a step in the strategic planning process? A) defining the company mission B) setting company objectives and goals C) designing the business portfolio D) planning marketing and other functional strategies E) evaluating all members of the value chain

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Answer #1

13) Which of the following involves adapting a firm to take advantage of opportunities in its constantly changing environment?

Ans: D) strategic planning

Analysis: It is only the strategic planning of an organization that takes advantages of a constantly changing environment.

14) Which of the following is the first step in strategic planning?

Ans: C) define the company mission

Analysis: Defining the company mission is the first stage of strategic planning

15) Which of the following is NOT a step in the strategic planning process?

Ans: E) evaluating all members of the value chain

Analysis: An evaluation of the members related to the chain is not a part of strategic planning as strategic planning focuses more on future goals.

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