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. 32) 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. embraces the tasks of developing a strategic vision, setting objectives, 4) 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