What term describes the means by which long-term objectives will be achieved?

The term that describes the means by which long-term objectives will be achieved is "strategies." Strategies are comprehensive plans that outline how an organization will utilize its resources to reach its long-term goals. They provide a framework for decision-making and align the organization’s activities toward fulfilling its vision and mission.

By setting strategies, an organization defines the approach it will take to address its competitive environment, respond to market changes, and leverage its strengths. This involves analyzing internal capabilities and external challenges, making strategic choices that guide the allocation of resources, and ultimately shaping the direction of the organization.

In contrast, tactics refer to the specific actions or short-term plans that are deployed to implement strategies. Goals represent the desired outcomes or benchmarks that the organization aims to achieve in alignment with its strategies, while policies are the guidelines or rules that govern actions within the organization. Understanding these distinctions is crucial for effective strategic management.