Which of the following statements about a company's strategy is true?
A) A company's strategy is 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) A company's strategy is 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) A company's 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 strategy is typically a blend of proactive and reactive strategy elements.
E) A company's strategy is developed mostly on the fly because of the constant efforts of managers to come up with fresh moves to keep the company's product offering clearly different and set apart from the product offerings of rival companies.

Question

Quizplus · Accepted Answer

A company's strategy usually involves a blend of proactive and reactive elements, which means that it involves both planned actions as well as responses to changing market conditions and competitive pressures. While a company's strategy may be planned in advance, it is not set in stone and may need to be adapted over time based on new information and shifts in the business landscape. Additionally, while a CEO can certainly have a significant impact on a company's strategy, strategies are typically shaped by a variety of leaders and stakeholders within the organization.

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