A strategy can be best defined as:
A)An effective use of the organization's resources.
B)A plan for using a firm's resources to achieve sustainable goals within a competitive environment.
C)A clear and detailed statement of an organization's mission and vision.
D)A plan for developing a firm's mission and vision statements.

Question

Quizplus · Accepted Answer

A strategy is a plan for using a firm's resources to achieve sustainable goals within a competitive environment. Option A is too narrow, as effective use of resources is only one aspect of a strategy. Option C is incorrect, as a strategy is not just a statement of mission and vision, but rather a plan for achieving those goals. Option D is also incorrect, as a strategy does not focus solely on developing mission and vision statements, but rather on achieving them.

A Strategy Can Be Best Defined As