Business Planning and Goals 2

Which of the following best explains how the SMART framework supports strategic goals in multinational corporations?

• It makes operational processes more expensive

• It turns vague aspirations into clear, actionable objectives

• It eliminates the need for planning altogether

• It replaces tactical goals with strategic ones

Tactical goals act as a bridge between ________ goals and ________ goals, ensuring alignment between medium-term strategy and day-to-day operations.

• Strategic

• Operational

The goal “Improve customer satisfaction by 20% in 6 months” fails which SMART criteria the most?

• Measurable

• Achievable

• Specific

• Time-bound

The absence of a __________ element in goal setting can lead to delays, lack of accountability, and inefficient resource allocation.

Which scenario best illustrates the idea that “Planning is the process, and goal setting is the content”?

• A company sets a goal but does not plan how to achieve it

• A business conducts market research without setting any goals

• A business sets a goal to open 3 branches and creates a step-by-step plan to do so

• A company revises its mission statement but has no operational roadmap

Which of the following best distinguishes a goal from an objective in business planning?

• A goal is time-bound, while an objective is broad and long-term

• A goal is specific and measurable, while an objective is aspirational

• A goal is a broad long-term achievement, while an objective is a SMART, actionable step

• Goals are short-term plans, while objectives focus on customer satisfaction

The statement “Launch in Ghana, Nigeria, Kenya within 18 months” is an example of a(n) __________, because it is specific, time-bound, and supports a broader goal.

Which of the following is NOT typically part of strategic planning?

• Vision alignment

• Setting priorities

• Conducting employee evaluations

• Allocating resources

A __________ is a long-term plan of action designed to achieve a major or overall aim in business.

How does a TOWS matrix build upon a SWOT analysis in strategic planning?

• By removing weaknesses from the business plan

• By turning SWOT insights into actionable strategies

• By replacing the SWOT framework with financial forecasting

• By ranking company departments in order of strength