Crafting a Strategy Involves

question 24

Multiple Choice

Crafting a strategy involves

• A) trying to imitate as much of the market leader's strategy as possible so as not to end up at a competitive disadvantage.
• B) developing a 5-year strategic plan and then fine-tuning it during the remainder of the plan period; big changes in strategy are thus made only once every 5 years.
• C) stitching together a proactive/intended strategy and then adapting first one piece and then another as circumstances surrounding the company's situation change or better options emerge.
• D) doing everything possible (in the way of price, quality, service, warranties, advertising, and so on) to make sure the company's product/service is very clearly differentiated from the product/service offerings of rivals.
• E) All of these accurately characterize the managerial process of crafting a company's strategy.