The essence of strategy is
A)developing lasting success that can support growth and secure the company's future over the long term.
B)recreating a business model with regularity.
C)matching rival businesses' products and quality dimensions in the marketplace.
D)building profits for short-term success.
E)realigning the market to provoke change in rival companies.

Question

Quizplus · Accepted Answer

The essence of strategy is to develop a plan that will lead to lasting success, which will contribute to the growth of the company and secure its future over the long term. This involves considering internal and external factors that could impact the company's success, as well as creating a plan of action to achieve goals and overcome obstacles. Recreating the business model regularly may be necessary, but it is not the essence of strategy. Matching rival businesses' products and quality dimensions is important, but it is not the essence of strategy. Building profits for short-term success may be a tactic, but it is not the essence of strategy. Realignment may be a strategy option, but it is not the essence of strategy.

The Essence of Strategy Is