The strategy-making, strategy-executing process

1 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.

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

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

4 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, and new opportunities.