What Is Strategy and Why Is It Important?

What Is Strategy and Why Is It Important?The five (5) tasks of strategic management are clear:– Develop a strategic vision and business mission;– Setting objectives;– Crafting a strategy to achieve the objectives;– Implementing and executing the strategy; and– Evaluating performance, monitoring new developments, and initiating corrective action.But, who does strategy — the CEO? Only the CEO? The “upper” echelon? Line Department Managers? Staff Department Managers? Operational Unit Managers? Or, does everyone do it??? And what do they do??? Mention “long-term” and “short-term” in your response.In this regard, what is the role of the role of the Board of Directors — should they be very involved (overly involved)? Or, should they rubber-stamp everything that management puts forth? What does Sarbanes-Oxley say about Board involvement?Note, our PowerPoints include some special issues about strategy, including:Strategy is about asking the right questions:What must managers do, and do well, to makea firm a winner in the marketplace?Strategy requires getting the right answers:Good strategic thinking and good management of the strategy-making, strategy-executing process.First-rate capabilities and skills in crafting and executing strategy are essential to managing successfullyIs that all that “strategy” is about???Take a piece of this intro and “run” with it! Use some real-life examples — use Google, if necessary — discuss your job; discuss your former job; what about the job(s) of your parent(s); or any organizations that you’ve read about; etc., etc., etc.!View the slides again from Chapter 1 and other articles, books, and slides; Do we all know what a “substantive post” and “responsive post” are? Well, “substantive posts” are early posts, which get others thinking — they are provocative, contain new thoughts, links to other sites, article quotes, textbook quotes, are “substantial,” and are referenced and/or “linked”, etc. “Responsive posts” are “responding,” substantially, to classmates’ “substantive posts.”