Question

20. Which of the following can be best described as short-term in nature?

Answer 1

The options are:

Mission statements

Annual objectives

Strategies

Vision statement

The correct option is  "Annual Objectives.'

Explanation:

• Strategic management is a business approach that is used to fulfill the company's goals.
• An important part of strategy implementation is annual objectives which are relatively short-term goals.
• Different policies are devised to attain annual objectives in terms of marketing, accounts, sales, management, operations, etc.  
• The success of a company greatly depends on how it attains its annual objectives.