Crafting and executing strategy chapter
1, 2, 3, & 4
What is strategy? - ANSWER...-• Defines attractive customer / market / segments in
which the company can
• provide superior customer value
• with a sustainable competitive advantage
• leading to superior company performance and shareholder value
The first stage of the six stage strategy making & executing process - ANSWER...-
developing a strategic vision, mission, and core values
The second stage of the six stage strategy making & executing process - ANSWER...-
setting objectives
The third stage of the six stage strategy making & executing process - ANSWER...-
crafting a strategy to achieve the objective and company vision
The fourth stage of the six stage strategy making & executing process - ANSWER...-
executing the strategy
The fifth stage of the six stage strategy making & executing process - ANSWER...-
monitoring developments, evaluating performance, and initiating corrective adjustments
The sixth stage of the six stage strategy making & executing process - ANSWER...-
revise as needed depending on the company's actual performance, changing
conditions, new opportunities and new ideas
A company's business model - ANSWER...-sets forth the logic for how its strategy will
create value for customers and at the same time generate revenues sufficient to cover
cost and realize a profit
What is the business model used for? - ANSWER...-It is management's blueprint for
delivering a valuable product or service to customers in a manner that will generate
revenue sufficient to cover cost in yield an attractive profit
Driving forces - ANSWER...-are the major underlying causes of change and industry
and competitive conditions
The balanced scorecard - ANSWER...-is the most widely used method for combining
financial objectives and strategic objectives, which is used to track the company's
1, 2, 3, & 4
What is strategy? - ANSWER...-• Defines attractive customer / market / segments in
which the company can
• provide superior customer value
• with a sustainable competitive advantage
• leading to superior company performance and shareholder value
The first stage of the six stage strategy making & executing process - ANSWER...-
developing a strategic vision, mission, and core values
The second stage of the six stage strategy making & executing process - ANSWER...-
setting objectives
The third stage of the six stage strategy making & executing process - ANSWER...-
crafting a strategy to achieve the objective and company vision
The fourth stage of the six stage strategy making & executing process - ANSWER...-
executing the strategy
The fifth stage of the six stage strategy making & executing process - ANSWER...-
monitoring developments, evaluating performance, and initiating corrective adjustments
The sixth stage of the six stage strategy making & executing process - ANSWER...-
revise as needed depending on the company's actual performance, changing
conditions, new opportunities and new ideas
A company's business model - ANSWER...-sets forth the logic for how its strategy will
create value for customers and at the same time generate revenues sufficient to cover
cost and realize a profit
What is the business model used for? - ANSWER...-It is management's blueprint for
delivering a valuable product or service to customers in a manner that will generate
revenue sufficient to cover cost in yield an attractive profit
Driving forces - ANSWER...-are the major underlying causes of change and industry
and competitive conditions
The balanced scorecard - ANSWER...-is the most widely used method for combining
financial objectives and strategic objectives, which is used to track the company's
