Final answer:
Annual objectives are indeed especially important in strategy formulation. They provide direction and focus to the organization's activities and help align them with its overall strategy.
Step-by-step explanation:
The statement is true. Annual objectives are indeed especially important in strategy formulation.
Annual objectives are specific goals that organizations set for themselves to achieve within a year. They provide direction and focus to the organization's activities and help align them with its overall strategy.
By setting annual objectives, organizations can measure their progress and make necessary adjustments to their strategy and tactics to ensure they are on track to achieve their long-term goals.