Podcast
Questions and Answers
Which of the following best defines strategy?
Which of the following best defines strategy?
- A set of interdependent choices that address certain questions (correct)
- Choosing what to do and what not to do
- Competing in terms of products, customers, and geography
- A desired outcome
What is the purpose of a value proposition in a strategy?
What is the purpose of a value proposition in a strategy?
- To differentiate from competitors (correct)
- To achieve a desired outcome
- To compete in terms of products, customers, and geography
- To create a low-cost strategy
What is the difference between operational effectiveness and strategy?
What is the difference between operational effectiveness and strategy?
- Operational effectiveness and strategy are the same thing
- Operational effectiveness is about creating a low-cost strategy, while strategy is about achieving a desired outcome
- Operational effectiveness is enough for sustainable long-term success, while strategy is about creating differentiation
- Operational effectiveness is necessary for superior performance, while strategy is about choosing a unique position (correct)
Strategy can be defined as a distinctive array of interdependent choices that address certain ______.
Strategy can be defined as a distinctive array of interdependent choices that address certain ______.
Value proposition: Why do customers come to you and not go to your ______.
Value proposition: Why do customers come to you and not go to your ______.
Operational Effectiveness Necessary for superior performance/profitability, but not enough for sustainable long term ______.
Operational Effectiveness Necessary for superior performance/profitability, but not enough for sustainable long term ______.
Strategy is about choosing a unique, valuable position that's rooted in a system of activities that are hard for other companies to match, providing _______ advantage.
Strategy is about choosing a unique, valuable position that's rooted in a system of activities that are hard for other companies to match, providing _______ advantage.
Sources of ______ advantage: What strategic choices have you made, to either create differentiation or a low-cost strategy, and what strategic choices have you made, with respect to investments, activities, resources, and capabilities that really allows you to create a sustainable competitive advantage.
Sources of ______ advantage: What strategic choices have you made, to either create differentiation or a low-cost strategy, and what strategic choices have you made, with respect to investments, activities, resources, and capabilities that really allows you to create a sustainable competitive advantage.
Desired outcome: What do you want to ________.
Desired outcome: What do you want to ________.
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