Question: What is the relationship between a strategic plan and a functional plan? Select answer from the options below A strategic plan sets the direction of

What is the relationship between a strategic plan and a functional plan?
Select answer from the options below
A strategic plan sets the direction of the company and a functional plan determines how each functional area contributes to the strategic plan.
A strategic plan is the companys plan A, but if it fails, the functional plan kicks in as plan B.
A strategic plan and a functional plan compete for resources and budgetary decisions are based on the performance of each plan.
A functional plan is independent from the strategic plan and does not take it into consideration.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Q:

In my opinion, we ought to stop making our own drums and accept that outside suppliers offer, said Wim Niewindt, managing director of Antilles Refining, N.V., of Aruba. At a price of $18 per drum, we...

Q:

What is the relationship between a strategic plan and a functional plan? A strategic plan sets the direction of the company and a functional plan determines how each functional area contributes to...

Q:

Can a company's vision be independent of its strategic plan? Why or why not? Select answer from the options below No; the vision is a sub-plan of the strategic plan. After the strategic plan is made,...

Q:

MRKT 310 Principles of Marketing Strategic Marketing & Value for the Customer Please use the service offering below; Lyft PRODUCT CHOICE & CONTENT Your focus will be on the domestic, or U.S....

Q:

London School of Science & Technology Qualification Unit number and title BTEC Level 5 HND Diploma Business UNIT 6: Business Decision Making Student name and ID number Assessor name Al Hassan Barrie...

Q:

Project You are responsible for developing an operational plan for your organisation. The strategic plan has already been written and sets the following direction for the coming year. Company A...

Q:

50. Defect repair is a form of a change request it is defined as: A. As an activity that realigns the performance of the project work with the project management plan. B. As an activity that ensures...

Q:

Print Term Project Objectives | Term Project Description | Ideas to Help Prepare the Course Project | Final Paper Rubric | Citation Help Objectives Back to Top The objective is to complete a written...

Q:

75. Which of the following is a correct statement? A. Lean is the opposite of value. B. B. Haste makes waste. C. There are ten forms of waste. D. Waste is the opposite of value. 76. You working on an...

Q:

63. Which of the following occur during initiating phase? A. Creation of lessons learned. B. Formal deliverable acceptance. C. Reduce spending of resources D. Perform benefit cost analysis 68. Which...

Q:

MBA 700: Strategic Analysis Final Project Guidelines and Grading Guide Overview The final project for this course requires students to use concepts from each module, answer questions about their...

Q:

On December 13, 2007, Alex Rodriguez signed a 10-year, $275 million contract with the New York Yankees. Five years into the contract, it remains the largest sports contract according to Wikipedia. In...

Q:

Big Comapny purchased 600 shares of Small Company for $10 per share. At the time, Small had 1,000 outstanding shares and reported $5,000 capital stock and $5,000 of retained earnings. During year X1,...

Q:

Medical payments coverage is defined as: the insurer promising to pay expenses for medical or funeral services because of an accident caused by the insured the insurer promising to pay expenses for...

Q:

you will be implementing a Lexicon class. This Lexicon class will maintain a list of words, and the user will be able to query the Lexicon as to whether or not a word is in the Lexicon, the user will...