Question: Understanding the Chapter: What Do I Know? 1 . What are planning, strategy, and strategic management? 2 . Why are they important? 3 . What

Understanding the Chapter: What Do I Know?1. What are planning, strategy, and strategic management?2. Why are they important?3. What is the difference between a mission and a vision, a mission statement and a vision statement?4. What are three types of planning?S. What are two types of goals?6. What are SMART goals?7. What is management by objectives?S. What three things have to happen for MBO to be successful?9. Explain the planning/control cycle.

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