Question

Libra Electronics specializes in manufacturing computers and computer accessories. As a means to expand business operations, the company is planning to introduce a whole new range of mobile phones in the market. In this scenario, Libra Electronics is developing a(n) _____.

Answer 1

Answer:

The correct answer is letter "E": strategic plan.

Explanation:

The strategic plan of a company is a managerial tool that allows companies to establish what to do and the path that it has to walk to reach its set objectives considering the changes in demand of its surrounding environment. In such a way, it is a critical key for decision-making within any entity.  

The strategic planning provides a real frame for managers and stakeholders so they can understand and evaluate the current situation of the company moreover when the firm is struggling or pursuing exploring new markets.