Which of the following statements about a company's strategy is true?

Mimicking the strategies of successful industry rivals$--$with either copycat product offerings or maneuvers to stake out the same market position$--$is one of the most reliable and time efficient ways to craft a profitable strategy.

A company's strategy generally changes very little over time unless a newly$-$appointed CEO decides to take the company in a new direction with a new strategy.

A company's strategy is developed mostly on the fly because of ongoing managerial actions to experiment with innovative ways to keep the company's product offering fresh and appealing to buyers.

A company's strategy is typically a blend of proactive and reactive strategy elements.

A company's strategy is typically planned well in advance and usually deviates little from the planned set of actions and business approaches.