When companies adopt the strategy-making and strategy execution process it requires they start by
A. developing a strategic vision, mission and values.
B. developing a proven business model, deciding on the company's top management team, and crafting a strategy.
C. setting objectives, developing a business model, crafting a strategy, and deciding how much of the company's resources to employ in the pursuit of sustainable competitive advantage.
D. coming up with a statement of the company's mission and communicating it to all employees, setting objectives, selecting a business model, and monitoring developments and initiating corrective adjustments to the business model when necessary.
E. deciding on the company's board of directors, setting financial objectives, crafting a strategy, and choosing what business approaches and operating practices to employ.

When companies formulate strategy, It involves choosing the most appropriate method or course of action that will help in actualizing the companies goals.

Strategy formulation and execution is important for the achievement of goals of an organisation because it helps to provide a path that the organisation will follow towards achieving their objectives.

In formulating and executing strategy, the first step to take is to develop a strategic vision, mission and values for the organisation.

The stage of vision , mission and value statement requires the organisation to state clearly why it is existing, what it intends to achieve, how it intends to achieve it, and the various guiding principles that will assist such organisation in achieving it goals and objectives.