Which of the Following Statements About Strategy Is MOST ACCURATE

question 218

Multiple Choice

Which of the following statements about strategy is MOST ACCURATE?

• A)An organization can be all things to all people because it has access to all the resources it needs to discover and satisfy the needs and wants of its target markets.
• B)The marketing department helps to both set an organization's direction and move it there.
• C)The American Marketing Association (AMA)recently has established the definition of strategy.
• D)Strategy is an organization's short-term course of action designed to deliver a specific customer experience while achieving its internal standards.
• E)Only start-up organizations must develop strategies to help them (1)raise capital and (2)focus and direct their efforts to accomplish their goals.

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Definitions:

Management By Objectives (MBO)

A management strategy in which employees set objectives that contribute to organizational goals, promoting alignment and engagement.

Setting Objectives

The process of establishing specific, measurable, achievable, relevant, and time-bound goals for an individual, team, or organization.

Operational Planning

The process of setting short-term objectives and determining the best methods to achieve them within the framework of the organization's overall strategic plan.

Intermediate Planning

A type of planning that focuses on setting objectives and strategies for a mid-term period, balancing between long-term visions and short-term actions.