In: Operations Management
1. Strategy and business model are two important concepts introduced early in the course.
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?