What function does a strategy serve?

Question

Quizplus · Accepted Answer

A strategy serves the function of setting the future direction for the organization and stating how it is to create value to customers and other stakeholders. This is often achieved by defining the organization's goals and objectives, identifying its strengths and weaknesses, and designing a plan of action to achieve its desired outcomes. A well-crafted strategy helps an organization to focus its efforts and resources on the most important areas, make informed decisions, and adapt to changing circumstances. Therefore, choosing option C is the best choice. Strategy serves to set the future direction for the organization and state how it is to create value to customers and other stakeholders.

What Function Does a Strategy Serve