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STRATEGY IP M3 - In-class Assignments and Mid-term Guidelines

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STRATEGY IP M3 - In-class Assignments and Mid-term Guidelines

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Questions and Answers

What does a company's business model include?

Customer value proposition and profit margin (correct)

Value-price-cost framework and ethical strategy

Cost structure and profit formula

Internal consistency and competitive advantage

What are the elements illustrated by the value-price-cost framework?

Strategy implementation and proactive actions

Cost structure and profit formula

Customer value proposition and profit formula (correct)

External consistency and dynamic consistency

Which test should a winning strategy pass according to the text?

Performance test (correct)

Internal consistency test

Ethical test

Dynamic consistency test

What does a sustainable advantage mean according to the text?

Advantage that persists despite competitors' efforts Signup and view all the answers

What does a company's strategy emerge from according to the text?

(1) Proactive deliberate actions and (2) Reactive emergent responses Signup and view all the answers

What is the profit formula in a company's business model designed for?

To deliver the customer value proposition profitably Signup and view all the answers

Which element of a company's business model focuses on satisfying customer wants and needs?

(1) Customer value proposition Signup and view all the answers

'A company’s strategy typically evolves over time' - What are the two contributing factors mentioned in the text?

(1) Proactive deliberate actions and (2) Reactive emergent responses Signup and view all the answers

'Ethical strategies must entail actions and behavior that can pass the test of moral scrutiny' - What does this imply?

'Ethical strategies should consider not being deceitful or harmful.' Signup and view all the answers

'A winning strategy will pass three tests: (1) fit, (2) competitive advantage, and (3) performance.' - What is one key element of fit mentioned in this context?

'External consistency' Signup and view all the answers