The set of decisions and actions resulting in the formulation and implementation of plans designed to achieve a company's objectives is defined as:

Question

Quizplus · Accepted Answer

Strategic management involves the overall process of setting objectives, analyzing the competitive environment, formulating strategies, and implementing plans to achieve the company's goals. Business policy is a subset of strategic management that focuses on the specific decisions and actions taken to implement those strategies. Tactics are the specific actions taken to carry out those decisions and achieve the objectives, but they are not the same as the overall process of strategic management. Therefore, choice C, strategic management, is the best answer.

The Set of Decisions and Actions Resulting in the Formulation