Question $6(1$ point$)$

Strategy formulation 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$).$

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.

static over time unless a newly appointed CEO decides to take the company in a

new direction with a new strategy.

typically a blend of proactive and reactive strategy elements.

developed solely on the fly because managers must make constant efforts to

come up with fresh moves to keep a company's product offering clearly set apart

from the nonduct offerings of rival firms