[solved] A company's strategy-making hierarchy

consists of a strategic vision, a set of strategic objectives, a declared strategic intent, and the actions and approaches a company intends to take in achieving a sustainable competitive advantage.

consists of a group of functional and operating strategies.

consists of two managerial levels: (1) executives who make major strategic decisions and (2) managers of specific units who make minor strategic decisions (as shown in Figure 2.2).

varies from company to company, according to whether a company's strategic intent is proactive or reactive, risky or conservative, offensive or defensive.

typically involves three organizational levels in single-business companies and four organizational levels in multi-business or diversified companies (as shown in Figure 2.2).