Final answer:
A company's strategy is executed through three main elements: formulation, implementation, and evaluation. These elements involve planning the strategy, executing it through various organizational activities, and reviewing its effectiveness.
Step-by-step explanation:
Strategy in the context of business refers to the comprehensive plan and actions a company undertakes to achieve its long-term goals. It's commonly accepted that strategy is carried out through three main elements: formulation, implementation, and evaluation. During the formulation phase, a company identifies its goals and devises plans or policies to achieve them. This requires careful planning and a clear understanding of what the goals are and how they align with the company's vision and mission. The implementation stage involves putting those plans into action through resource allocation, marketing strategies, and financial management. Lastly, evaluation is critical as it allows for the review of the strategy's effectiveness and the making of any necessary adjustments. These three elements ensure that a business can set achievable and appropriate goals and seek the best path to fulfill them, considering both present actions and future outcomes as in the context of Investment Strategies and Financial Assets.