Strategy$-$making is

more of a collaborative group effort that involves all managers and sometimes key employees, as opposed to being the function and responsibility of a few high$-$level executives.

first and foremost the function of a company's chief executive officer$-$who formulates strategic initiatives and submits them to the board of directors for approval.

primarily the responsibility of key executives rather than a task for a company's entire management team.

first and foremost the function and responsibility of a company's strategic planning staff.

first and foremost the function and responsibility of a company's board of directors.