Question

The Ralph Lauren Corporation designs, markets, and distributes apparel and other merchandise to more than 10,000 department stores around the world. It also operates its own retail stores, factory stores, and e-commerce sites. The above depiction of Ralph Lauren's breadth of activities and the extent of its market reach is describing which element of its strategic plan?

corporate objectives

corporate scope

mission statement

operating plan

Answer 1

Operating plan

The description of the activities of the corporation is describing the manner in which the corporation operates its business. This includes the actual designing marketing and distribution of the products of the business.

Corporate objectives define the broad overall objectives of a corporation. It does not define the manner in which the operations are going to be conducted. The corporate scope determines the organization of the resources for the completion of a specific task. The mission statement is a form a summary of the goals and values of an organization.