Strategy formulation is Multiple Choice 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 mostly hidden to outside view and is deliberately kept under wraps by top level managers so as to catchival companies by Surprise when the strategy is launched 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 product offerings of tivali