In a diversified company like Disney Inc., the process of crafting a strategy involves

a. a flexible strategic vision and strategic intent.
b. changing the base of its strategy-making pyramid as conditions warrant.
c. determining whether its strategic intent is proactive or reactive.
d. a bundle of strategic initiatives and actions devised by managers and key employees up and down the whole organizational hierarchy.
e. review and approval at every level by the company’s board of directors.