Strategy is in essence a long-term plan for an organization to achieve its long-term objectives.

Question

Quizplus · Accepted Answer

Strategy is indeed a long-term plan that outlines how an organization will achieve its goals and objectives over a period of several years or even decades. This plan is usually developed by top-level management and guides the organization's decision-making processes, resource allocation, and other key activities. While short-term tactics may also be developed to support the overall strategy, the main focus is on achieving sustainable growth and success in the long run.

Strategy Is in Essence a Long-Term Plan for an Organization