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(i) The board of a company decides that the strategic objectives of the company should be:
• to become established as the best in its field • to be the largest in its market.
Comment briefly on what the length of time should be to achieve these objectives.
(ii) State how the strategic and sometimes medium term objectives of a company may differ in an important aspect from operational planning. Give some examples of strategic planning activities and operational planning.
(iii) State briefly how the type of business a company is engaged in might determine the importance of the type of planning that would be required for:
(a) an oil exploration company
(b) a clothing retailer.
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