Question

is the owner of a small company that sells corporate gifts through an online store. Business has slowed down in recent months and he realizes that the organization must move in a different direction if it is to survive. He has reset some of the company's overall goals and wants to develop a plan to achieve those goals. He is anticipating the business environment to be volatile for the next few years. Considering the above information, it can be determined that his plan must be _______, __________, and __________.

Answer 1

Answer:

strategic, specific and flexible

Explanation:

Strategic planning refers to planning for long term ambitions and goals of an organization. Such plans are of strategic importance and hence devised by the top management of an enterprise.

Specific plans refer to the future course of action, which is targeted at meeting a particular or specific goal or objective provided in a basic plan.

Flexible plans are the plans which allow for last minute changes in the strategy as per the business situation prevalent.

In the given case, the shop owner has reset overall goals i.e modified them and devise a specific plan to achieve those alongside making an allowance for future business fluctuations. This means, the plan should be strategic, specific and flexible.