Which of the following statements about strategy is most accurate?
A)An organization can be all things to all people because it has access to all the resources it needs to discover and satisfy the needs and wants of its target markets.
B)The marketing department helps to both set an organization's direction and move it there.
C)The American Marketing Association (AMA)recently has established the definition of strategy.
D)Strategy is an organization's short-term course of action designed to deliver a specific customer experience while achieving its internal standards.
E)Only start-up organizations must develop strategies to help them (1)raise capital and (2)focus and direct their efforts to accomplish their goals.

Question

Quizplus · Accepted Answer

Strategy is a long-term plan of action designed to achieve a particular goal, which involves setting objectives, analyzing the competitive environment, and choosing the most effective course of action to achieve those objectives. While the marketing department may play a role in developing and executing strategy, strategy is not solely the responsibility of the marketing department. Option A is incorrect because no organization can be all things to all people. Option C is incorrect as the AMA has not recently established a definition of strategy. Option D is incorrect because it describes tactics or a plan of action, not strategy. Option E is incorrect because all organizations, not just start-ups, develop strategies to accomplish their goals.

Which of the Following Statements About Strategy Is Most Accurate