Final answer:
COSO defines strategy as the method or plan to achieve business objectives. Business objectives are goals and targets set by an organization to achieve its mission.
Step-by-step explanation:
Strategy is defined by COSO as the method or plan chosen to achieve business objectives. It involves determining the direction and scope of an organization and making decisions on allocating resources to pursue its objectives.
Business objectives are the goals and targets set by an organization to achieve its mission. They provide guidance and serve as a framework for decision-making and evaluating performance. These objectives can include financial goals, market share targets, customer satisfaction metrics, and more.
Overall, COSO emphasizes the importance of aligning strategy with business objectives to increase the likelihood of success and effectiveness in achieving desired outcomes.