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 its rivals.
E)All of these accurately characterize the managerial process of crafting a company's strategy.

Question

Quizplus · Accepted Answer

Crafting a strategy involves a combination of deliberate, planned initiatives and emergent, unplanned reactive responses to changing circumstances. It also involves abandoning planned strategy elements that have failed in the marketplace. This approach allows for flexibility and adaptation in the face of uncertainty and changing market conditions. Option B is too rigid and does not allow for adjustments based on changes in the business environment. Option C is not recommended as it does not take into consideration the unique strengths and resources of the company. Option D is too focused on differentiation alone and does not consider other elements of a successful strategy. Option E is correct as it accurately summarizes the various aspects of crafting a company's strategy.

Crafting a Strategy Involves