Question
Standard Manufacturing's management team is working on an updated strategic plan. The firm has an 18-month plan to upgrade factory equipment to increase productivity. Standard
Standard Manufacturing's management team is working on an updated strategic plan. The firm has an 18-month plan to upgrade factory equipment to increase productivity. Standard also has a 4-year plan to implement a new product line, which involves the marketing, operation, and planning departments. Which statement is incorrect?
A) The factory upgrade plan is a short-term or operational plan
B) The new product line plan is a medium-term plan
C) A change in current market trends may force Standard to change the product line plan and produce a different product
D) A technological change or advancement should not impact the time frame of a strategic plan
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