The five$-$phase managerial process of making and executing strategy....

Group of answer choices

embraces the tasks of developing a strategic vision, setting objectives, crafting a strategy, implementing and executing the strategy, and then monitoring developments and initiating corrective adjustments in light of experience, changing conditions, new ideas, and new opportunities.

is usually delegated to members of a company's board of directors so as not to infringe on the time of busy executives.

is primarily the responsibility of top executives and the board of directors; very few managers below this level are involved.

is only concerned with sizing up an organization's internal and external situation, so as to be prepared for the challenge of developing a sound business model.