If Stanley Jones, VP Finance, meets with Linda Sheridan, CEO, to discuss how much of the budget can be allocated to certain departments for next year's project plans, the two are engaging in a. stating objectives. b. contingency planning. c. strategic planning. d. tactical planning. e. financial planning.

The answer is (d). tactical planning

Explanation:

Tactical planning is a short-range planning of a company by some few management staff regarding the basic strategic planning of the whole company and emphasizing the current operations of the various departments. It is a way to analyze and plan towards what various departments of the organization must do to elevate the company within a year or less.

Tactical planning ensures some goals are set for the immediate future that is independent of the management strategic decisions of the entire organization. This can be seen from the illustration in the question whereby the Vice President and the CEO are having discussions on how some departments financing for the year budget can have positive impact on the organization project plans.

The correct answer is E) Financial Planning.

Explanation:

The art of determining how a business will afford to achieve its strategic goals and objectives is referred to as Financial planning.

Usually, a company creates a Financial Plan immediately after the vision and objectives have been set.

The following are the steps taken during financial planning:

Evaluate the business environment Revisit the business vision and objectives to confirm direction List the types of resources needed to achieve these objectives Estimate the amount of resource (labor, equipment, materials) Compute the total cost of each type of resource Summarize the costs to create a budget Examine any risks and issues with the set budget

Cheers!