"Strategy is synonymous with policies".

In the context of strategic management, the statement "Strategy is synonymous with policies" oversimplifies the relationship between the two. While both strategy and policies are integral to the direction of an organization, they are not identical concepts.

Strategy refers to the long-term plan of action designed to achieve specific organizational goals, often involving the allocation of resources, entering new markets, or _______ _____ __________ _____ ______ _________ ____ ___.
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