Multiple Choice
The ____ is a sentence in a business plan that describes the purpose of the business.
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1. Introduction to Accounting
Business Organization
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Which term best describes a company that pursues and achieves its strategic objectives?
A
Nonprofit organization
B
Effective organization
C
Sole proprietorship
D
Limited liability company
Verified step by step guidance1
Understand the question: The problem is asking for the term that best describes a company that successfully pursues and achieves its strategic objectives.
Clarify the concept of 'strategic objectives': These are specific goals set by a company to achieve its mission and vision, often involving long-term planning and execution.
Evaluate the options provided: Analyze each term to determine which aligns with the definition of a company achieving its strategic objectives.
Option 1: 'Nonprofit organization' refers to entities that operate for purposes other than generating profit, such as charitable or educational goals. This does not directly relate to achieving strategic objectives in a general business sense.
Option 2: 'Effective organization' is a term that describes a company that successfully achieves its goals, including strategic objectives. This aligns with the question and is the correct term.
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