A petroleum refinery stockpiles crude oil so that it can easily switch between producing home heating oil and gasoline, depending on relative demand. This is an example of planning.

Strategic planning is the correct answer

Explanation:

Strategic planning is the plan that is established to analyze the business and to set objectives to reach the goal of the organization.

Strategic planning helps the organization in taking the decision and changing the process when required for the success of the organization.

Steps involved in Strategic planning are

answerpublic goods;