ANC Inc Operates with Planning Horizons Greater Than Five Years

Multiple Choice

ANC Inc. operates with planning horizons greater than five years. However, it is difficult to predict competitive conditions five years in the future, so the top managers implement a plan that involves regular reviews and updates in all levels of the company. The plan enables the company to respond quickly and to make adjustments as necessary. This is an example of a(n) ________ plan.

A) short-term
B) long-term
C) intermediate-term
D) rolling
E) annual