Question

Corporate strategic planning involves decisions related to:

a. All of these.
b. What measures should we use to control strategic initiatives?
c. What businesses should we be in?
d. What specific product- and market-based initiatives and goals should we establish?

Answer 1

Corporate strategic planning involves decisions related to what product to produce, how to produce it, how much output to produce, what price to charge, and how much labor to employ.

Step-by-step explanation:

Corporate strategic planning involves decisions related to:

1. What product or products should the firm produce?
2. How should the firm produce the products (i.e., what production process should the firm use)?
3. How much output should the firm produce?
4. What price should the firm charge for its products?
5. How much labor should the firm employ?

These decisions depend on the production and cost conditions facing each firm, as well as the market structure for the products in question.