Strategy:
A) Is the development of plans and decisions which will guide the direction of the firm and determine its long-term performance
B) Focuses on the vision of the firm and the opportunity which it believes exists in the marketplace
C) checks that the life expectancy of the product or service is long enough to ensure that the initial investment can be recovered and that the firm can make a profit.
D) a) and c)
E) a), b) and c)

Question

Quizplus · Accepted Answer

Strategy involves both the development of plans and decisions to guide the firm's direction and long-term performance (A) as well as the focus on the firm's vision and opportunities in the market (B). Additionally, it also considers the life expectancy of the product or service to ensure a long enough period for the recovery of the initial investment and profitability (C). Therefore, the best choice is option E, which includes all the options A, B, and C.