A ________ is a company's plan for how it will balance its internal strengths and weaknesses with external opportunities and threats in order to maintain a competitive advantage.

Question

Quizplus · Accepted Answer

A company's plan for balancing its internal strengths and weaknesses with external opportunities and threats is called its strategy. A mission statement is a broad statement of the company's purpose or reason for existing. Tactics are specific actions used to achieve a goal within a strategy. A scorecard is a tool used to track and measure progress towards specific goals, but it is not a plan for achieving those goals.

A ________ Is a Company's Plan for How It Will