The purpose of strategic planning is to find ways in which the company can best ?
Correct answer: B. use its strengths to take advantage of attractive opportunities in the environment
- A. overcome losses
- B. use its strengths to take advantage of attractive opportunities in the environment
- C. avoid paying taxes
- D. avoid the expense of costly research and development while still getting the benefits
Explanation
Strategic planning matches a firm’s internal strengths with attractive opportunities in its external environment. It is not primarily designed to avoid taxes, losses, or research costs.
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Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
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