Which of the following is true about strategy?
A) Strategy is a general plan developed to reach short-term goals without any planning.
B) Organizational strategy focuses only on the marketing and financial aspects of a business.
C) Smaller organizations are more precise than large organizations in developing organizational strategy in order to meet their goals sooner.
D) Strategy is actually the end result of strategic planning.
E) Research and development are not a part of an organization's strategy.

Question

Quizplus · Accepted Answer

Strategy is not the same as strategic planning. Strategic planning is the process of developing a strategy, while strategy itself is the end result of that process.

All of the other options are incorrect. Strategy is a long-term plan developed to reach specific goals, not just short-term goals without any planning. Organizational strategy covers all aspects of a business, not just marketing and financials. Larger organizations may have more resources to develop strategy, while smaller organizations may lack the resources to do so. Finally, research and development may be a key part of an organization's strategy, especially if they are innovating in their industry.

Which of the Following Is True About Strategy