10 Questions
What does a company's business model include?
Customer value proposition and profit margin
What are the elements illustrated by the value-price-cost framework?
Customer value proposition and profit formula
Which test should a winning strategy pass according to the text?
Performance test
What does a sustainable advantage mean according to the text?
Advantage that persists despite competitors' efforts
What does a company's strategy emerge from according to the text?
(1) Proactive deliberate actions and (2) Reactive emergent responses
What is the profit formula in a company's business model designed for?
To deliver the customer value proposition profitably
Which element of a company's business model focuses on satisfying customer wants and needs?
(1) Customer value proposition
'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
'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.'
'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'
Learn about the guidelines for in-class assignments, mid-term exams, and team projects in the STRATEGY IP M3 course. Be prepared for the mid-term exam covering all material presented up to that point. Team projects will be presented in the last two class periods.
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