The pattern of actions a company's management is using to achieve organizational objectives is referred to as its A) mission statement. B) business model. C) strategy. D) strategic vision. E) strategic intent.
The pattern of actions a company's management is using to achieve organizational objectives is referred to as its A) mission statement. B) business model. C) strategy. D) strategic vision. E) strategic intent.
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Question
The pattern of actions a company's management is using to achieve organizational objectives is referred to as its
A) mission statement.
B) business model.
C) strategy.
D) strategic vision.
E) strategic intent.
Expert Solution
Step 1
Short-, medium-, and long-term objectives are set for every organization. Organizational development objectives, as they are also known, are the objectives that organizations aim to achieve. The allocation of resources and the formulation of future policies are heavily influenced by objectives. Organizational objectives are the priorities that every organization has to achieve in order to be successful in the competitive world.
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