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In the current business environment, companies cannot survive without a long-term strategy. What exactly should an effective strategy include?

a) A set of policies, procedures, and approaches to business that will result in long-term success.

b) A focus on accurate financial data, thus allowing the firm to effectively compete in any environment.

c) A focus on long-term nonfinancial information that will provide the company with versatile management techniques capable of being used in a wide variety of situations.

d) A clear, concise mission statement, naming every product and outlining the company's long-term goals of success.

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