Which of the Following Statements About a Company's Realized Strategy

Which of the following statements about a company's realized strategy is true?

A) A company's realized strategy is mostly hidden to outside view and is deliberately kept under wraps by top-level managers.
B) A company's realized strategy is typically planned well in advance and usually deviates little from the planned set of actions.
C) A company's realized strategy generally changes very little over time unless a newly appointed CEO decides to take the company in a new direction with a new strategy.
D) A company's realized strategy is typically a blend of deliberate and/or planned initiatives and emergent and/or unplanned reactive strategy elements.
E) A company's realized strategy is developed mostly on the fly because of the constant efforts of managers to keep rival companies at a disadvantage.