Strategy formulation and implementation is a challenging ongoing process. To be effective, it should not involve: MGMT 449 Chapter 1 Strategy formulation and implementation is a challenging ongoing process. To be effective, it should not involve: A. the CEO and the board of directors B. the board of directors, CEO, and CFO C. competitors D. line and staff managers Answer: C Learn More : Share this Share on FacebookTweet on TwitterPlus on Google+