WHAT IS THE MOST CRITICAL ELEMENT IN SUCCESSFUL STRATEGIC PLANNIN...

114. What is the most critical element in successful strategic planning?

a. Creativity

b. Top management support and participation

c. Continual attention

d. The use of a BCG portfolio model

e. A stringent and narrow mission statement

ANS: B

Effective strategic planning requires continual attention, creativity, and management commitment--the

latter being the most critical.

PTS: 1

REF: 46

OBJ: 02-11

TOP: AACSB Reflective Thinking

KEY: CB&E Model Strategy

MSC: BLOOMS Level VI Evaluation

DeFeet International started as a cyclist sock company. The founder, Shane Cooper, said that the

existing socks for cyclists were just not of great quality so he made socks for his cycling team by

knitting them inside out. The socks were of special materials aimed at giving the cyclist the most

comfortable fit. These socks were not the traditional white socks but bright, bold, and flashy colored

socks with cool graphics. These high tech socks were priced around $10 a pair. Their web site says

“DeFeet is Made for Driven Soles.” Soon cycling elites like Lance Armstrong and Greg LeMond were

sporting the DeFeet brand. The company branched into running, hiking and snow gear. Their products

include socks, armskins, calfskins, boxer briefs, gloves, and shirts for the serious athlete. They also

have a custom department where socks, armskins, and gloves can be customized with any motif

including sponsor types of logos like Michelin, Pabst Blue Ribbon, or BP. Even kids can enjoy

DeFeet’s high quality socks. DeFeet’s products can be found in retailers across the world, in more than

twenty countries, like Israel, Australia, Belgium and the United States. More than two-dozen online

retailers also carry their products.