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After earning a profit of $10 billion, Tekmake decides to double its profits within the next five years. It lays out broad goals and develops a market penetration strategy to accomplish its goals. In this case, the process by which Tekmake is going to achieve this goal is called _____.

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Answer: Planning

Explanation: Planning in business terms involves the process of drafting a detailed proposal with the aim of doing or accomplishing a goal. In this case Tekmake has laid out broad goals and developed market strategies with the aim of accomplishing their goal of doubling it's profits within 5 years time.

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