Which of the following statements about strategy is MOST ACCURATE?
A)An organization can be all things to all people because it has access to all the resources it needs to discover and satisfy the needs and wants of its target markets.
B)The marketing department helps to both set an organization's direction and move it there.
C)The American Marketing Association (AMA)recently has established the definition of strategy.
D)Strategy is an organization's short-term course of action designed to deliver a specific customer experience while achieving its internal standards.
E)Only start-up organizations must develop strategies to help them (1)raise capital and (2)focus and direct their efforts to accomplish their goals.

Question

Quizplus · Accepted Answer

Strategy involves setting an organization's direction and aligning its resources to achieve its objectives. While the marketing department plays an important role in this process, it is not the only department involved in developing and executing a company's strategy. Option A is incorrect because no organization can be all things to all people, as resources are always limited. Option C is incorrect because the AMA did not recently establish the definition of strategy. Option D is incorrect because strategy is typically a long-term plan rather than a short-term course of action. Option E is incorrect because all organizations, regardless of their size or stage of development, need to develop and implement strategies to achieve their objectives.

Which of the Following Statements About Strategy Is MOST ACCURATE