In the current business environment, companies cannot survive without a long-term strategy.What exactly should an effective strategy include?
A)A set of plans for using resources to achieve sustainable goals.
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 plans for using resources to achieve sustainable goals. This means that the strategy should not only focus on short-term gains but also consider the long-term impact on the business and its stakeholders. A sustainable strategy should be able to provide a roadmap for the company to achieve its goals while also ensuring that the resources are utilized efficiently and effectively. Accurate financial data and a clear mission statement are important components of a strategy; however, focusing solely on these aspects may not necessarily lead to sustainable success in the long run. Similarly, long-term nonfinancial information may not always provide versatile management techniques that can be used in a wide variety of situations.

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