Crafting a company's strategy is best described asMultiple Choicethe exclusive province of top management-owner-entrepreneurs, CEOS, and other very senior executives.delegation of considerable strategy-making authority to down-the-line managers in charge of particular subsidiaries, product lines, geographic salesoffices, and piants in companies that are diversified geographically or by product/marketinvolving the board of directors in the lead role in crafting a company's strategy.being assumed by an elite group of corporate entrepreneurs.always the product of brilliant corporate entrepreneurs.Activ

A business strategy is a tool that help an organization to the goals/objectives, defining the…

Answered: Crafting a company's strategy is best…

Business

Management

Crafting a company's strategy is best described as

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

See similar textbooks

Related questions

Q: Why do you think the strategies ( or strategic planning) fail to deliver desired results? Be brief…

A: Strategies are mainly created by organizations in order to accomplish specific business goals. It…

Q: Develop strategic plan of your own organization and following each step in it ?

A: Strategic planning is defined as corporate strategy to define and achieve quantifiable long term…

Q: Business Strategy Business strategy refers to the overall plan for a business. The strategy sets…

A: A vision statement is given by founders which gives a well thought path to the company to move…

Q: Describe how functional strategies are aligned with the business strategies. How is the process of…

A: The organization's strategies have roots in its whole strategic objectivities. Business strategies…

Q: Which type of strategy states the methods that a division within an organization will use to compete…

A: Business-Level Strategy states that a division within an organization will use to compete against…

Q: Explain and discuss in some detail why a company's strategy is really a collection of strategies.

A: A company strategy is the collection of multiple strategies. Strategies play an important role in…

Q: Why has strategy evaluation become so important in business today?

A: Strategic management narrates a plan that aids to provide the handling and instructing to the…

Q: Provide an analysis on why organizations need a strong strategy implementation management system to…

A: A group of individuals working together to accomplish a similar objective, usually through a…

Q: In operations describe and discuss the three stages of strategy development that a large…

A: The term "strategy" refers to a collection of analytical tactics or methods for planning in order to…

Q: Strategy is important to organizations if they are to gain and maintain a competitive advantage.…

A: Strategic management is the method of building capabilities that enable a firm to form prices for…

Q: Discuss the impact of the environment upon the strategic decisions.

A: A business enterprise is a part of society and changes in environment influence its functioning and…

Q: True or False Strategic management allows firms to restrict change in the organization.

A: False

Q: Discuss the 3 levels of strategy formulation and explain what is entitled at the Group or Corporate…

A: Strategy is fundamental to any firm and one of the pillars to long-term success. The strategy…

Q: The process of strategic management means setting a pathway for an organisation to change and then…

A: Introduction :- A field of management that deals with an organization's strategic goals is referred…

Q: How do the internal and external environments of the organization and its strengths and weaknesses…

A: Each and every firm that are involved in doing business, employ its own strategy in operating daily…

Q: Discuss how getting a solid strategy would ensure the organization success?

A: Accomplishing something is not synonymous with realizing it. A director's efficiency is enhanced by…

Q: Share something interesting you learned when writing about one of the organizations on our curated…

A: INTRODUCTION: Strategic development is an important process for businesses. It helps businesses to…

Q: Explain the roles of training in the strategy implementation of a company

A: This question is related to the topic of Business strategy and this topic falls under the operations…

Q: Introducing three organizational levels for strategic consideration: Corporate, Business and…

A: The issues found in corporate-level strategy are given below. 1.) The firm's structure for its own…

Q: What are the strengths and weaknesses of these two types of corporate-level strategies?

A: The corporate level strategy provides a brief description of the company's weaknesses and…

Q: What is the importance of top-down and bottom–up approaches in strategy implementation?

A: Strategy implementation is the process of putting the selected strategy into action. In this stage,…

Q: Discuss the fundamental principles of the business strategy and how does it vary from the corporate…

A: The term "organization" encompasses the systematic arrangement of things and a network of…

Q: Strategy formulation, implementation, and evaluation activities occur at the following hierarchical…

A: The correct answer = c. Corporate, divisional or strategic business unit, and functional.Strategy…

Q: What do you think the most difficult aspect of operationalizing strategy through different business…

A: From a personal standpoint, the most significant challenge that will face the operationalization of…

Q: Discuss how well-designed policies and procedures can facilitate good strategy execution.

A: Policy is a guideline or statement for an individual or organization which directs the actions to he…

Q: Explain what a company looks for when identifying a strategy. List your responses in order of…

A: The top management will formulate the strategies, mission and vision for the company, and will be…

Q: What are the stages a strategy will undergo? What will be the response of a strategic auditor to…

A: The strategic management process is a method for defining an organization's future path that is…

Q: explain the environmental dimensions of strategy formation

A: Business Managers should be able to anticipate, recognise and deal with change in the internal and…

Q: List and discuss the three stages of strategy that a large company must build in a short paragraph.

A: A selection of analytic strategies or methods for planning to achieve the organization's intended…

Q: From a strategic perspective, what is technology?

A: Strategic management comes with a wide range of well-established mindsets. It focuses on management…

Q: Why is strategic flexibility important for strategy formulation when an organization is at the…

A: Concept Introduction : Strategic Flexibility refers to the organizations ability through which they…

Q: pitfalls of having a low-cost strategy

A: A low-cost strategy is a technique in which a company sells its products at a lower price than its…

Question

Crafting a company's strategy is best described as
Multiple Choice
the exclusive province of top management-owner-entrepreneurs, CEOS, and other very senior executives.
delegation of considerable strategy-making authority to down-the-line managers in charge of particular subsidiaries, product lines, geographic sales
offices, and piants in companies that are diversified geographically or by product/market
involving the board of directors in the lead role in crafting a company's strategy.
being assumed by an elite group of corporate entrepreneurs.
always the product of brilliant corporate entrepreneurs.
Activ

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, management and related others by exploring similar questions and additional content below.

Similar questions

In an organisation, how might the three stages of strategic planning, organisational planning, and tactical planning complement each other?
What is a functional strategy? Give an example of how they relate to a firm.
How can organizations prioritize tasks and activities in their planning to ensure efficient execution?
What is the meaning of strategy and the role of strategy to achieve business objectives and goals, strategic intent anddifferent strategic direction.
The process of strategic management means setting a pathway for an organisation to change and then putting in place plans and policies which enable it to achieve its corporate aim. With reference to this, describe the strategic management process.
1
Porter (1980) defined a number of 'generic strategies' that business units can use as a way of competing. Explain each generic strategy and comment on its potential advantages and disadvantages.
Come up with any business venture idea and discuss the importance of the allocation of resources to ensure execution of strategies.
The evolution of one company affecting the evolution of other companies this is exemplified by the classical case of microprocessors and software. While microprocessor producers develop more efficient processors, the software producers quickly make use of the new opportunities and the software becomes heavier, which causes pressure to develop even more efficient processors. Also, strategic changes of one company affect strongly to possibilities of other companies in its ecosystem. This is why managers should consider the broad impact of their decisions over the whole ecosystem. Complexity concept: Co-evolution Explain the concept of Co-evolution based on the scenario above.
Discuss how getting a solid strategy would ensure the organisation success?
Are there ethical risks associated with the implementation of Sseko’s strategy?
How does the external environment, such as legal and regulatory factors, impact the planning process and organizational strategies?