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CA Intermediate · Financial Management and Strategic Management · Introduction to Strategic Management

Sundaram Foods, a packaged snacks company, states that it wants to be 'India's most trusted family snack brand by 2032'. This statement, describing a desired future position that inspires the organisation, is best described as its:

The statement is a vision. A vision expresses the aspirational future position an organisation wants to reach, here being India's most trusted family snack brand by 2032. Policies, tactics and budgets guide actions or allocate resources but do not describe the long-term desired future.

  1. AVisionCorrect
  2. BPolicy
  3. CTactic
  4. DBudget

Explanation

A vision describes the desired future position or aspiration of the organisation, such as being the most trusted brand by a future date. A policy is a guideline for decisions, a tactic is a short-term action and a budget is a financial plan, none of which describe a long-term aspiration.

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