Certification in Supplier Diversity Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Prepare for the Certification in Supplier Diversity Exam. Utilize flashcards and multiple choice questions with detailed hints and explanations. Ensure your success with comprehensive study resources!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

Long-range strategic plans typically cover which time period?

1 to 2 years
3 to 5 years
5 to 10 years
More than 10 years

The correct answer is: 5 to 10 years

Long-range strategic plans generally encompass a time frame of 5 to 10 years. This period is significant as it allows organizations to set achievable visions and targets that are aligned with their long-term goals. Planning for a span of 5 to 10 years enables businesses to adapt to changing market conditions, implement growth strategies, and allocate resources effectively over time. This time frame also encourages comprehensive evaluation of potential risks and opportunities that may arise in the longer term, fostering better-informed decision-making. Such a planning cycle is essential for ensuring that the strategic direction remains relevant and actionable as external and internal environments evolve.