Final answer:
A firm's strategy is an integrated approach to achieve its objectives, which can attract investors once the strategy suggests future profits. It is not restricted to orderly growth or meeting investors' expectations but can involve various actions including hiring necessary personnel.
Step-by-step explanation:
Strategy is the central, integrated, externally oriented concept of how the firm will achieve its objectives. Strategy involves understanding what the company's challenges are and developing an approach to tackle them. These challenges could be about managing growth, innovating, or maintaining financial stability. The growth of a company is not merely about growing in an orderly fashion, nor is it solely focused on meeting investors' expectations, although these might be parts of the larger strategic plan. Strategy encompasses recruiting and hiring personnel when that contributes to achieving the broader company goals. An established firm with a coherent strategy that predicts future profits can attract outside investors like bondholders and shareholders, as it is capable of presenting reliable information about its products, revenues, costs, and profits.