Which of the Following Statements Is CORRECT

question 18

Multiple Choice

Which of the following statements is CORRECT?

• A) Once a firm has defined its purpose,scope,and objectives,it must develop a strategy or strategies for achieving its goals.The statement of corporate strategies sets forth detailed plans rather than broad approaches for achieving a firm's goals.
• B) A firm's corporate purpose states the general philosophy of the business and provides managers with specific operational objectives.
• C) Operating plans provide management with detailed implementation guidance,consistent with the corporate strategy,to help meet the corporate objectives.These operating plans can be developed for any time horizon,but many companies use a 5-year horizon.
• D) A firm's mission statement defines its lines of business and geographic area of operations.
• E) The corporate scope is a condensed version of the entire set of strategic plans.