
Understanding Strategy
Flashcard
•
Business
•
University
•
Practice Problem
•
Hard
Amol Ankush
Used 1+ times
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5 questions
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1.
FLASHCARD QUESTION
Front
What is strategy in its core definition?
Back
A long-term plan for achieving specific goals, involving the optimal use of resources and capabilities to gain a competitive advantage.
2.
FLASHCARD QUESTION
Front
What does a strategy serve as?
Back
A roadmap that outlines how to move from the current state to a desired future state.
3.
FLASHCARD QUESTION
Front
What question does strategy essentially answer?
Back
How do we get from here to there?
4.
FLASHCARD QUESTION
Front
What are the key components involved in strategy?
Back
Optimal use of resources and capabilities.
5.
FLASHCARD QUESTION
Front
What is the ultimate goal of a strategy?
Back
To gain a competitive advantage.
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