Why Are Crafting and Executing Business Strategies the Foremost Tasks

question 26

Multiple Choice

Why are crafting and executing business strategies the foremost tasks of any organization?

• A) Because they are necessary ingredients of a sound operational business model
• B) Because a good strategy coupled with a good strategy execution are the most telling signs of good management and allow a company to be a standout performer in the marketplace
• C) Because the management skills of top executives are sharpened as they work their way through the strategy-making, strategy-executing processes
• D) Because doing these tasks helps executives develop an appropriate strategic vision, strategic intent, and set of strategic objectives
• E) Because of the contribution they make to maximizing value for shareholders

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Definitions:

Team Approach

A method of working that emphasizes collaboration and collective effort among group members towards a common goal.

New Thought Process

implies adopting a novel approach or perspective in problem-solving or creative thinking, diverging from traditional or familiar patterns.

Right Expertise

The possession of the precise knowledge, skills, and experience required for a specific task or job.

Leadership

The ability of an individual or a group to influence and guide followers or other members of an organization towards achieving goals.