In crafting a company's strategy, managers

Multiple Choice

need to come up with a sustainable competitive advantage that draws in customers and produces a competitive edge over rivals.

are well$-$advised to be risk$-$averse and develop a "conservative" strategy$-$"dare$-$to$-$be$-$different" strategies are rarely successful.

face the biggest challenge of how closely to replicate strategies of successful companies in the industry.

have comparatively little freedom in choosing the "hows" of strategy.

are wise not to decide on concrete courses of action in order to preserve maximum strategic flexibility.