___________ is the development of plans and decisions which will guide the direction of the firm and determine its long-term performance.
A) Vision
B) Planning
C) Strategy
D) Execution
E) Tactic

Question

Quizplus · Accepted Answer

Strategy refers to the development of plans and decisions aimed at guiding the direction of the firm and determining its long-term performance. This involves a systematic approach to identifying the firm's goals and objectives, assessing its internal and external environment, and formulating plans and policies to achieve its goals. Planning is a broader concept that includes the identification of goals and objectives, the development of strategies to achieve them, and the creation of specific action plans and schedules to implement the strategies. Vision refers to the overall purpose and direction of the firm, while execution involves the implementation of plans and strategies to achieve the firm's goals. Tactics are specific actions and activities that are used to implement strategies and achieve goals.

___________ Is the Development of Plans and Decisions Which Will