1. Planning involves two important elements: a. goals and decisions plans and decisions b. goals and plans d. goals and actions 2. Strategic plans include the formulation of goals, whereas operational plans define ways to maximize the organization's profits b. achieve the goals c minimize the number of employees that have to be laid off in hard times d. provide the most efficient methods of production 3. is a one-time plan specifically designed to meet the needs of a unique situation. A multipurpose plan An operational plan b. A strategic plan d A single-use plan 4. Standing plans are ongoing plans that provide a general directions of how to accomplish an identifiable task b. stakeholders with identifiable goals that the organization will always strive to achieve c. the stockholders with identifiable goals that the organization will always strive to achieve d. guidance for activities performed repeatedly