Strategy Formulation Is

Multiple Choice

Strategy formulation is

A) mostly hidden to outside view and is deliberately kept under wraps by top-level managers (so as to catch rival companies by surprise when the strategy is launched) .
B) typically planned well in advance and usually deviates little from the planned set of actions and business approaches because of the risks of making on-the-spot changes.
C) static over time unless a newly appointed CEO decides to take the company in a new direction with a new strategy.
D) typically a blend of proactive and reactive strategy elements.
E) developed solely on the fly because managers must make constant efforts to come up with fresh moves to keep a company's product offering clearly set apart from the product offerings of rival firms.