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What Are Strategic Plans in Business? - Definition & Examples

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Strategic planning is ___________.

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1. To be valuable, a strategic plan have all of the following EXCEPT ______________.

2. Typically, strategic plans are created by ____________.

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About This Quiz & Worksheet

This quiz and worksheet will gauge your understanding of the components of strategic plans in business. The quiz will assess your comprehension of concepts like time period and strategic plans.

Quiz & Worksheet Goals

Use these assessment tools to:

  • Define strategic planning
  • Understand what makes a strategic plan valuable
  • Recognize how strategic plans are created
  • Identify the time period addressed in a strategic plan
  • Determine a measurable statement about what a company wants to achieve in the future

Skills Practiced

This worksheet and quiz let you practice the following skills:

  • Reading comprehension - ensure that you draw the most important information from the related lesson on one of the most important functions of a company's leaders
  • Making connections - use understanding of the concept related to a measurable statement of future intentions
  • Critical thinking - apply relevant concepts to examine information about whether a strategic plan has the necessary components to be considered valuable in a different light

Additional Learning

To learn more about business planning, review the lesson on What Are Strategic Plans in Business? - Definition and Examples that covers the following objectives:

  • Understand the importance of strategic plans
  • Identify what is not a strategic plan
  • Look at strategic planning within the context of a real-world scenario
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