Crafting and executing strategy are top$-$priority managerial tasks because

how well executives perform these tasks determine the extent to which a company's chances for outcompeting rivals and becoming the industry leader are above$-$average or below$-$average.

how well executives perform these tasks determine whether the company will enjoy maximum profitability.

all company personnel, and especially senior executives, need to have a strong understanding of "who we are, what we do$,$ and where we are headed"

how well a company performs and the degree of market succets it achieves are directly attributable to the caliber of its strategy and the proficiency with which the strategy is executed.