In the current business environment,companies cannot survive without a long-term strategy.What exactly should an effective strategy include?
A)A set of policies,procedures,and approaches to business that will result in long-term success.
B)A focus on accurate financial data,thus allowing the firm to effectively compete in any environment.
C)A focus on long-term nonfinancial information that will provide the company with versatile management techniques capable of being used in a wide variety of situations.
D)A clear,concise mission statement,naming every product and outlining the company's long-term goals of success.

Question

Quizplus · Accepted Answer

An effective strategy should include a set of policies, procedures, and approaches to business that are designed to achieve long-term success. This includes a clear understanding of the market, competitors, and customer needs, as well as a solid plan for managing resources and adapting to changing conditions. Accurate financial data and a clear mission statement may be part of this overall strategy, but they are not sufficient on their own. Nonfinancial information is also important for developing versatile management techniques.

In the Current Business Environment,companies Cannot Survive Without a Long-Term