A company’s strategy is developed mostly on the fly because of ongoing managerial actions to experiment with innovative ways to keep the company’s product offering fresh and appealing to buyers.
A company’s strategy is typically planned well in advance and usually deviates little from the planned set of actions and business approaches.
A company’s strategy is typically a blend of proactive and reactive strategy elements.
A company’s strategy generally changes very little over time unless a newly-appointed CEO decides to take the company in a new direction with a new strategy.
Mimicking the strategies of successful industry rivals–with either copycat product offerings or maneuvers to stake out the same market position–is one of the most reliable and time efficient ways to craft a profitable strategy.
