Question

Libra Electronics specializes in manufacturing computers and computer accessories. The company is planning to introduce a whole new range of mobile phones in the market with staggered releases throughout the following five years. In this scenario, Libra Electronics is developing a(n) ________

Answer 1

Libra Electronics specializes in manufacturing computers and computer accessories. The company is planning to introduce a whole new range of mobile phones in the market with staggered releases throughout the following five years. In this scenario, Libra Electronics is developing a(n) Strategic plan.

Explanation:

A document that depicts about the goals of an organisation and the steps that are to be taken in achieving these goals are called as strategic plans.There are three main things that are taken into consideration during the development of a strategic plans.

It must include planing visions, scenarios  and issues that are related to it. In the scenario given in the question, Libra electronics has plans of introducing new range of mobile phones. It produces plans for the execution of the plan for five years and so this is an example of developing a strategic plan.