The strategy$-$making, strategy$-$executing process

entails developing a viable business model, deciding on the company's strategic intent, creating a balanced scorecard to monitor performance, and crafting a $5-$year strategic plan.

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

includes establishing a company's mission, developing a business model aimed at making the company an industry leader, and crafting a strategy to implement and execute the business model.

includes the tasks of developing a strategic vision, mission and core values; setting objectives; crafting a strategy to achieve the performance objectives and move the company along the chosen path; implementing and executing the strategy; and monitoring developments, evaluating performance, and initiating corrective adjustments.

is principally 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.