What type of planning is exemplified by a refinery stockpiling crude oil in order to quickly switch between home heating oil and gasoline based on the knowledge that product demand fluctuates?

Question

Panda

Social Studies

22 June, 12:22

What type of planning is exemplified by a refinery stockpiling crude oil in order to quickly switch between home heating oil and gasoline based on the knowledge that product demand fluctuates?

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Answers (1)

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Orlando Lyons · Answer 1

The correct answer to the following question will be "Strategic planning".

Explanation:

Strategic planning is the method of recording and defining the course of your local business - by determining both who you are and where you are going or want to go. The strategic plan provides you a space to archive your purpose, goal, and beliefs, and also the deep-term goals and plans of action that you will use to accomplish them. Strategic planning is demonstrated by the factory stocking oil to successfully move between home heating gasoline and diesel based on the information that commodity consumption varies.

Therefore, Strategic planning is the right answer.