1BUSINESS POLICY AND STRATEGY QUESTIONSNAME:INSTITUTIONCOURSE NUMBERCOURSE TITLE:INSTRUCTOR’S NAME:DUE DATE:2BUSINESS POLICY AND STRATEGY QUESTIONSQuestion 1First, long-range planning is the set of objectives and goals that defines the path of thecompany’s future. Therefore, it’s considered and the current knowledge concerning the futureconditions; additionally, long-term strategies have to be achieved within five to ten years. Whenlong-range goals are set, they clearly define the exalt results to be observed after theimplementation. In contrast, strategic planning is developed to show the actions and objectivesessential in achieving the long-range plan. Therefore through strategic planning, the organizationcan swiftly respond to the changing or dynamic organizational environments to achieve longrange goals. David et al. (2017).Question 2The terms ‘strategic management and strategic planning’ often sound similar; however,they are different. Firstly strategic plan is the method or approaches applied when creating anorganization’s direction. Therefore strategic planning includes the organization’s mission,priorities, and visions. While strateg … Purchase document to see full attachment

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