Q.6. Give any three important points of strategic planning.
Ans. Three important points of strategic planning are as follows:
(a) Strategic planning gives an overall direction.
(b) Strategic planning is planning for organisation as a
whole.
(c) It develops a sense of ownership of the plan.
Q.7. Give any two methods of composing a strategic plan.
Ans. The two methods of composing a strategic plan are:
(a) Composing method,
(b) Communication method.
Q.8. What do you mean by corporate analysis?
Ans. Corporate analysis describes the process of evaluating key entities of a company to determine its strength and weakness.
Q.9. Why company conducts a corporate analysis?
Ans. By conducting corporate analysis managers can identify areas which can be improved in some way to increase the overall effectiveness and productivity of the business
Q.10. What are the merits of strategic evaluation?
Ans. The merits of strategic evaluation are as follows:
(a) It checks work planning.
(b) It is an instrument for stability.
c) It is useful to find out most profitable resources.
(d) It provides consistency of action.
(e) It provides future safeguard.