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

Question

Quizplus · Accepted Answer

Crafting and executing business strategies are important tasks for any organization because a good strategy, coupled with effective strategy execution, is the most telling sign of good management. This enables the company to stand out in the marketplace, attract customers, and maximize value for shareholders. While the other options also play a role in the importance of crafting and executing business strategies, B is the most comprehensive and accurate choice.

Why Are Crafting and Executing Business Strategies the Foremost Tasks