A strategy is an action plan to achieve specific long-term goals and objectives. It involves making decisions and taking actions that will lead to the desired outcomes in the future. While there may be risks involved, a strategy involves careful planning and consideration of the potential outcomes. Choices A, B, D, and E do not fully capture the essence of a strategy.

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A Strategy Is

Question 4

Multiple Choice

A strategy is:

A) an action plan to maximize rewards in the current period in return for big risks.
B) a procedure for allocating resources among functions in the organization.
C) an action plan to achieve specific long-term goals and objectives.
D) an action plan to achieve specific operational and tactical goals.
E) a vision of the future of an organization.

Correct Answer: