The process of assessing the financial strengths and weaknesses ...

[cartlidgeashley]

The process of assessing the financial strengths and weaknesses of an organization, identifying opportunities and threats, exploring external impacts, and formulating a financial reaction for the organization is ____.
 
  a. Annual financial analysis
  b. Long-range planning
  c. Organizational revenue critique
  d. Strategic financial planning

Question 2

What does a good plan have?
 
  A) Built-in evaluation checkpoints so that there can be a midcourse correction if unexpected events occur
  B) A midterm evaluation should always occur at the midpoint of the plan.
  C) If the goals were not met, the plan should not be used again since it failed.
  D) Always overplan to arrange required details so that the manager can carry out all the steps of the plan.

[Chou]

Answer to Question 1

D
Strategic financial planning is a process of assessing the organization and its departments or di-visions. Financial strengths and weaknesses are explored and analyzed. Financial opportunities and external threats are identified and critiqued. External financial forces are considered, and their impacts are projected in relationship to the organization.

Answer to Question 2

A