1. Strategy and business model are two important concepts introduced early in the course. What question...

1. Strategy and business model are two important concepts introduced early in the course.

What question does a company’s business model address? What are its elements?
What is the difference between a strategy and a business model?

2. Discuss the following statement: “If you do the same things as your rivals, but do them better, you do not need a strategy.” Don’t give just an opinion; try to use textbook concepts and/or our class discussions.

3. Strategy and business model are two important concepts introduced early in the course.

a. What question does a company’s business model address? What are its elements? Give examples.

b. What is the difference between a strategy and a business model? Give examples.

4. If you would like to know whether your company’s existing strategy is a winning one, what are the 3 tests you need to apply? (Hint: These are the tests mentioned in your textbook). If you are formulating a strategy for your company and would like to know whether the new strategy is likely to be a winning one, what are the 3 tests you need to apply? (Hint: These are the 3 tests we talked about in class).

5. (a) Describe IKEA’s (or Starbucks’ strategy as well as you can. (b) Does it pass the three tests of a winning strategy in your opinion? Explain. What would you need to know in order to answer that question?

Expert Solution

keosha answered 7 months ago

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