Question $<$ Previous Next A company's strategy$-$making hierarchy 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 $2\mathrm{.}2)$ 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 typically involves three organizational levels in single$-$business companies and four organizational levels in multi$-$business or diversified companies $($as shown in Figure $2\mathrm{.}2)$ varies from company to company, according to whether a company's strategic intent is proactive or reactive, risky or conservative, offensive or defensive.