Final answer:
The Incident Action Plan (IAP) of the ICS outlines the strategic objectives and how emergency operations will be conducted, detailing strategy and tactics for the response team.
Step-by-step explanation:
The component of the Incident Command System (ICS) that outlines the strategic objectives and describes how emergency operations will be conducted is the Incident Action Plan (IAP). The IAP details the overall strategy and tactics that will be used by the emergency response team to manage the incident. This plan is typically developed by the incident command team for a specified operational period and contains measurable strategic operations designed to accomplish the objectives under given assumptions and constraints.