CA Intermediate · Financial Management and Strategic Management · Introduction to Strategic Management
A Pune-based software company, Nimbus Tech, states: 'To be the most trusted provider of cloud solutions to Indian small businesses by 2032.' In the strategic management hierarchy, this statement is best classified as:
The statement is a vision statement because it describes the future position the company aspires to reach: the most trusted cloud provider for Indian small businesses by 2032. It is aspirational and long-term, unlike a policy, procedure or variance report.
- AA vision statementCorrect
- BA functional policy
- CAn operating procedure
- DA budget variance report
Explanation
The statement describes a desired future position, a target group and a time horizon, which is what a vision does. It is not a functional policy, procedure or report, which deal with narrower operational matters.
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