Which of the following statements is CORRECT? Answer Once a firm has defined its

Question

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

Explanation / Answer

its definitely Operating plans provide detailed guidance to operating managers, consistent with the corporate strategy, to help managers meet the corporate objectives.

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