C483 - Section 1 [B] Strategic Planning Basics
Questions with Verified Correct Answers
The _____ consists of broad external forces that influence all organizations, regardless of
industry. While companies cannot control these forces, they must account for them during
strategic planning to reduce risk and identify opportunities.
Macroenvironment
The ______ includes factors such as inflation, interest rates, unemployment, consumer
confidence, and economic growth.
economic environment
______ shape planning decisions related to pricing, growth opportunities, investment, and
cost management.
economic conditions
_________ use economic data to set achievable objectives and prepare for uncertainty.
strategic planners
______ is the most influential and the fastest changing macroenvironal factor.
technology
Technological advances can add significant value to an organization by ______, _____, and
________.
lowering costs, improving efficiency, and creating new business opportunities.
The _________ included employment laws, health & safety standards, environmental
regulations, data privacy rules, and industry-specific requirements.
legal and regulatory environment
______ can significantly affect strategic decision related to operations, staffing, product
design, and market entry.
changes in the law
Questions with Verified Correct Answers
The _____ consists of broad external forces that influence all organizations, regardless of
industry. While companies cannot control these forces, they must account for them during
strategic planning to reduce risk and identify opportunities.
Macroenvironment
The ______ includes factors such as inflation, interest rates, unemployment, consumer
confidence, and economic growth.
economic environment
______ shape planning decisions related to pricing, growth opportunities, investment, and
cost management.
economic conditions
_________ use economic data to set achievable objectives and prepare for uncertainty.
strategic planners
______ is the most influential and the fastest changing macroenvironal factor.
technology
Technological advances can add significant value to an organization by ______, _____, and
________.
lowering costs, improving efficiency, and creating new business opportunities.
The _________ included employment laws, health & safety standards, environmental
regulations, data privacy rules, and industry-specific requirements.
legal and regulatory environment
______ can significantly affect strategic decision related to operations, staffing, product
design, and market entry.
changes in the law
