Question

A strategy is: Multiple Choice an action plan to maximize rewards in the current period in return for big risks. a procedure for allocating resources among functions in the organization. an action plan to achieve specific long-term goals and objectives. an action plan to achieve specific operational and tactical goals. a vision of the future of an organization.

Answer 1

An action plan to achieve specific long term goals and objectives. based on the plans formed later resources are allocated. But initially long term goals and objectives are to be framed which is the main objective of strategic planning.