Which of the following is an integral part of the managerial process of crafting and executing strategy?
A) developing a proven business model
B) setting objectives and using them as yardsticks for measuring the company's performance and progress
C) deciding how much of the company's resources to employ in the pursuit of sustainable competitive advantage
D) communicating the company's mission and purpose to all employees
E) deciding on the composition of the company's board of directors

Question

Quizplus · Accepted Answer

Setting objectives and using them as yardsticks for measuring the company's performance and progress is an integral part of the managerial process of crafting and executing strategy. This helps in monitoring the effectiveness of the strategy and making necessary adjustments to achieve desired outcomes.

Answer: C 
 Deciding how much of the company's resources to employ in the pursuit of sustainable competitive advantage is another crucial aspect of the managerial process of crafting and executing strategy. This involves allocating resources in a manner that maximizes the company's strengths, minimizes weaknesses, takes advantage of opportunities, and counters potential threats.

Answers A, D, and E are also important considerations in the strategic management process, but they are not directly related to the crafting and execution of strategy. Developing a proven business model is a critical success factor for firms, but it is more of a prerequisite for strategic management than a part of it. Communicating the company's mission and purpose to all employees and deciding on the composition of the company's board of directors are also important, but they are peripheral activities that support the strategic management process rather than integral parts of it.

Which of the Following Is an Integral Part of the Managerial