What describes the plans and policies a company develops to achieve its objectives?

The correct answer is corporate strategy because it encapsulates the overarching plans and policies that an organization formulates to steer its direction and achieve its long-term objectives. Corporate strategy takes into account various aspects of the business, including market positioning, resource allocation, and competitive advantage, to ensure that the organization is aligned with its goals and has a roadmap for growth.

In contrast, organizational structure refers to the way a company arranges its workforce and defines the chain of command, which influences how objectives are implemented but does not directly describe the plans themselves. A business model focuses on the way a company creates, delivers, and captures value, often detailing revenue streams and customer base rather than specifically articulating the strategic plans. An operational plan outlines specific actions and procedures needed to implement the strategies in the corporate strategy and is more tactical rather than high-level like corporate strategy.