CA Intermediate · Financial Management and Strategic Management · Introduction to Strategic Management
Nandini Textiles, a Surat-based firm, states that it wants to be 'the most trusted supplier of sustainable fabrics to Indian apparel brands by 2032'. In strategic management terminology, this statement is best described as the firm's:
The statement is strategic intent expressed as a vision, because it describes the future position the firm aspires to reach by 2032. Budgets, policies and procedures are operational tools and do not articulate a long-term aspirational destination for the whole organisation.
- AStrategic intent expressed as a visionCorrect
- BOperational budget
- CFunctional policy
- DTactical procedure
Explanation
A statement describing a desired future position of the firm over a long horizon is its vision, a form of strategic intent. A budget, policy or procedure deals with narrower, shorter-term operational matters and does not describe an aspirational future position.
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