Question : Statement 1: Strategic control is primarily concerned with short-term planning.
Statement 2: Strategic control focuses on evaluating day-to-day operations.
Option 1: Both correct.
Option 2: Both incorrect.
Option 3: Statement 1 correct, Statement 2 incorrect.
Option 4: Statement 2 incorrect, Statement 1 correct.
Correct Answer: Both incorrect.
Solution : The correct answer is (b) Both incorrect.
Statement 1 is incorrect. Strategic control is not primarily concerned with short-term planning; it is focused on the long-term strategic direction of an organization. It involves monitoring and adjusting an organization's strategic plans to ensure they align with long-term objectives.
Statement 2 is incorrect. Strategic control does not focus on day-to-day operations. It is more concerned with high-level, long-term strategic decisions and their implementation, rather than the detailed evaluation of day-to-day activities.
Question : Statement 1: Controlling is an isolated function and not connected to other management activities.
Statement 2: Controlling is interconnected with planning, organizing, and leading functions.
Question : Questions : Business Finance and Its Meaning
Statement 1: Financial planning assists in optimal allocation of resources for business activities.
Statement 2: Financial planning solely focuses on short-term goals.
Statement 1: Financial planning ensures efficient allocation of available funds.
Statement 2: Financial planning is only concerned with short-term goals.
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