To address the challenges and opportunities they face organisations engage in a process of strategic management. Strategic management is:

A. short-term focused and composed of organisational strategy, including strategy formulation and implementation

B. short-term focused and composed of the organisation's mission, vision and value statements

C. long-term focused and composed of organisational strategy, including strategy formulation and implementation

D. long-term focused and composed of the organisation's mission, vision and value statements

Answer: Option C