Chapter 11, Strategic Planning, Review Questions, Exercise 1
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The CFO has asked each member of the team to express his or her thoughts on two topics:


Should any resources from outside the finance organization be recruited to help identify and evaluate alternative strategies? Why or why not?

Here is a tip:

Examiners can point out errors.

Explanation

1) Strategic planning is a technique where the manager focuses on their vision for the future to identify the objectives and goals.

2) It defines a kind of organization it wants to be, non-economic and economic contributions.

3) It consists of goals, objectives, vision, mission, KPI metrics, plans on contingency, and prevention.

4) The head of the team or the company is responsible for strategic planning.

Verified Answer

Yes.

Reasons:

  • One should never evaluate their programs such as architecture, computer codes, because problems might be neglected. 
  • To check whether the planning is implemented correctly or not.
  • Inspect the goals, tactics, and objectives.
  • Inspect on the resources and environments.
  • Increase the ergonomics such that it increases productivity, effectiveness.
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