The strategic management process C. O a. includes forming a strategic vision, setting objectives, and crafting strategy, but does not include the tasks of implementing and executing strategy. O b. is principally concerned with sizing up an organization's internal and external situation so as to be prepared for the challenge of crafting a sound, well-conceived strategy embraces the tasks of forming a strategic vision of a company's future business make-up and long-term direction, establishing objectives, crafting a strategy, implementing and executing the strategy and then initiating corrective adjustments in light of experience, changing conditions, new ideas, and new opportunities O d. is usually delegated to members of a company's board of directors so as not to infringe on the time of busy executives. e. is primarily the responsibility of top executives and the board of directors; very few managers below this level are involved