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What is characterized as a long-term plan reflecting organizational priorities?
Short-term plan
Strategic plan
Single use plan
Standing plan
The correct answer is: Strategic plan
A strategic plan is fundamentally a long-term plan that outlines an organization's goals and priorities, guiding its overall direction and decision-making processes. This type of plan is essential for aligning resources with the organization's mission and vision, ensuring that all efforts contribute toward achieving specified objectives over an extended timeframe—often ranging from three to five years or longer. Strategic planning involves analyzing internal and external environments, identifying opportunities and threats, and defining specific actions to leverage strengths and mitigate weaknesses. It typically covers broader aspects such as market positioning, financial goals, operational improvements, and stakeholder engagement, making it a comprehensive framework for organizational development. In contrast, other types of plans, such as short-term plans, are often focused on immediate tasks and objectives, typically spanning a year or less, thereby lacking the long-term outlook of a strategic plan. Single-use plans are created for specific, non-repetitive projects, while standing plans are designed for ongoing activities or situations that occur regularly, both of which do not serve the comprehensive long-term planning purpose represented by a strategic plan.