Crafting and executing strategy are thus core management tasks. Among all the things managers do, nothing affects a company's ultimate success or failure more fundamentally than how well its management team charts the company's direction, develops competitively effective strategic moves, and pursues what needs to be done internally to produce good day-in, day-out strategy execution and operating excellence. Indeed, good strategy and good strategy execution are the most telling and trustworthy signs of good management. The rationale for using the twin standards of good strategy making and good strategy execution to determine whether a company is well managed is therefore compelling: The better conceived a company's strategy and the more competently it is executed, the more likely the company will be a standout performer in the marketplace. In stark contrast, a company that lacks clear-cut direction has a flawed strategy or can't execute its strategy competently is a company whose financial performance is probably suffering, whose business is at long-term risk, and whose main- argument is sorely lacking.

 

Using the information above, consider a topic that contributes specifically to corporate strategy, detailing the topic and its role in corporate strategy.