Question

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

Answer 1

Answer: (C)

Step-by-step explanation:

Operational plan simply spreads out the daily activities of an organization over the course of a particular time say a year or more. It spreads out the job description of individuals, resource allocation, possible risk to be faced and how to alleviate it.

It is a template or guide for operating or running an organization in other to achieve set goals.