Crafting a Strategy Involves

question 24

Multiple Choice

Crafting a strategy involves

• A) blending deliberate,planned initiatives with emergent,unplanned reactive responses to changing circumstances,while abandoning planned strategy elements that have failed in the marketplace.
• B) developing a five-year strategic plan and then fine-tuning it during the remainder of the plan period.
• C) trying to imitate as much of the market leader's strategy as possible so as not to end up at a competitive disadvantage.
• D) doing everything possible (in the way of price,quality,service,warranties,advertising,and so on) to make sure the company's product and/or service is very clearly differentiated from the product and or service offerings of rivals.
• E) All of these accurately characterize the managerial process of crafting a company's strategy.

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Definitions:

Individualized Socialization

A process by which an individual acquires the personal skills and behaviors necessary for integrating into society, tailored to their individual experiences and needs.

Institutionalized Socialization

The process through which individuals learn and adopt the norms, values, and behaviors necessary for functioning within a particular institution or organization.

Psychosocial Function

The interrelation of social factors and individual thought and behavior, affecting a person's social functioning.

Career Functions

Refers to the aspects of a career that enhance an individual's future employability, such as training, networking, and mentorship.