Question : Statement 1: Strategy involves setting long-term goals.
Statement 2: Strategies are formulated at different levels of an organization
Option 1: Both statements are correct.
Option 2: Only statement 1 is correct.
Option 3: Only statement 2 is correct.
Option 4: Neither statement 1 nor statement 2 is correct.
Correct Answer:
Both statements are correct.
Solution : The correct answer is (a) Both statements are correct.
Statement 1 is correct. Strategy often involves setting long-term goals to provide direction and a sense of purpose for an organization. Long-term goals help guide decision-making and actions over an extended period.
Statement 2 is also correct. Strategies can be formulated at various levels within an organization, including corporate, business, and functional levels. Different levels of strategy are aligned to support the overall objectives of the organization.
Therefore, both statements are correct.
