23.
A company’s business model
24.
The elements of a company’s business model are
25.
A viable business model includes a valuable customer value proposition that
26.
A company’s business model
27.
A winning strategy is one that
28.
A well-conceived strategy builds a company’s
29.
In evaluating proposed or existing strategies, managers should
1-23
30.
Which of the following questions ought to be used to distinguish a winning strategy from a so–
so or flawed strategy?
Short Answer Questions
31.
Briefly define each of the following terms:
a. strategy
b. business model
c. sustainable competitive advantage
32.
List five elements of an enterprise’s business strategy.
33.
Explain the difference between a company’s business model and a company’s strategy.
34.
What is the nitty-gritty issue surrounding a company’s business model?
35.
What is the connection between a company’s strategy and its quest for sustainable
competitive advantage?
36.
Should a company’s strategy be tightly connected to its quest for competitive advantage? Why
or why not? What difference does it makes whether a company has a sustainable competitive
advantage or not?
37.
Why are capabilities critical to a company’s quest for a sustainable competitive advantage?
38.
Why does a company’s strategy tend to evolve over time?
39.
Why is a company’s realized strategy a blend of proactive and adaptive approaches?
40.
Provide at least two examples of a company’s competitively valuable capabilities.
41.
Define and explain the importance of the two elements of a company’s business model.
42.
What are the three criteria that determine whether or not a company has a winning strategy?
43.
What are the three questions that managers can use to distinguish a winning strategy from a
so-so or flawed strategy? Briefly explain why each question is important.
44.
Why are capabilities needed to build a sustainable competitive advantage so important to a
winning business strategy? Cite one of the company examples in the chapter to illustrate your
answer.
45.
Explain why some companies get to the top of industry rankings and stay there, while others
do not.
46.
Explain what affects a company’s ultimate success or failure in the marketplace.