Question

Sarah, the cofounder of a start-up company that sells sports goods, prepares a mission/purpose statement for the company. In the mission/purpose statement, she clarifies the overall mission and how the company will deal with its competitors and provide services to its customers. In this scenario, Sarah has contributed to developing the company's _____.

Answer 1

Answer:

The correct answer is letter "A": strategic plan.

Explanation:

A company's strategic plan includes the long-term objectives of a firm and the series of steps it intends to take to achieve those objectives. The institution establishes the approaches that will be used to attempt reaching its goals, who will be involved in such strategies and the population that could be benefited from the organization's activities.

Part of the strategic plan involves identifying the strengths and weaknesses of the entity's operations as well as its environmental opportunities and threats. The strategic plan sets the path the corporate will follow while handling business.