Answer:
1. management analysis and choice in part, as well as by the necessity of adapting
Explanation:
Strategy refers to a formulated future plan which specifies the manner in which an organization shall progress and the course it is going to adopt with respect to it's operations, so as to attain it's goals and objectives.
A Company's strategy is an outcome of management analysis of past trends and record as well as the current business environment in which it operates.
Choice refers to decision making ability of the management which relates to making strategic important decisions and making the most of the opportunities.
Adaptation refers to the nature of business environment which is dynamic in nature strategies and policies need to be framed in the alignment of the environment.
To conclude, a company's strategy is shaped by 1. management analysis and choice in part, as well as by the necessity of adapting.