Question

The traditional approach to corporate planning was to: have a decentralized planning staff. have a centralized planning department. set up a planning task force. set up planning committees. use TQM approach.

Answer 1

Answer: The correct option is “ have a centralized planning department”

Explanation: A corporate plan involves setting out the actions required and also determine the resources available in other to deliver the required aims and objectives. However, your corporate plan is an important document that will continue to help monitor finances, liabilities, identify opportunities and control your internal systems and structures. Furthermore, corporate plan involves creating a long term plan with the aim of achieving the organizational stated goals and objectives.