Podcast
Questions and Answers
What does a company's business model include?
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?
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?
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?
What does a sustainable advantage mean according to the text?
What does a company's strategy emerge from according to the text?
What does a company's strategy emerge from according to the text?
What is the profit formula in a company's business model designed for?
What is the profit formula in a company's business model designed for?
Which element of a company's business model focuses on satisfying customer wants and needs?
Which element of a company's business model focuses on satisfying customer wants and needs?
'A company’s strategy typically evolves over time' - What are the two contributing factors mentioned in the text?
'A company’s strategy typically evolves over time' - What are the two contributing factors mentioned in the text?
'Ethical strategies must entail actions and behavior that can pass the test of moral scrutiny' - What does this imply?
'Ethical strategies must entail actions and behavior that can pass the test of moral scrutiny' - What does this imply?
'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?
'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?
