Strategy Argument

What is the primary purpose of a strategy?

• To create a detailed list of tasks for an organization.

• To create and capture value

• To ensure an organization meets its daily operational goals.

• To solely focus on outperforming competitors in the short term.

What is a strategy argument?

• A list of reasons why a company will be profitable.

• A detailed financial projection for the next fiscal year

• The causal logic of why a strategic plan will work.

• A public relations campaign to improve the company's image.

Which of the following is NOT explicitly mentioned as a main element of a well-considered strategy?

• Goals

• Scope

• Mission Statement

• Competitive advantage

• Causal logic

What are the four elements of a good strategy?

• Discovering the opportunity, diagnosis of obstacles, logical argument for overcoming the obstacles, and coherent action.

• Setting goals, defining scope, achieving competitive advantage, and managing resources.

• Planning, organizing, leading, and controlling.

• Innovation, marketing, sales, and customer service.

A strategy map is a visual representation of

• The organizational chart and hierarchy of a company.

• A timeline of key milestones in the implementation of a strategy.

• A market analysis showing competitive positioning.

• The causal path that leaders believe generates a particular strategic outcome

When building a strategy argument for an organization, what is the suggested structure?

• Mission, vision, values, goals

• Problem, solution, implementation plan, evaluation.

• Strengths, weaknesses, opportunities, threats.

• What the organization has, does, the why(s) of the has and does, and the competitive advantage.

What is likened to a good strategy?

• A well-executed marketing campaign.

• A good theory of how you will accomplish your goals

• A flexible and adaptable organizational structure.

• strong and charismatic leader.

How can you increase confidence that you have a good strategy?

• By consistently achieving high profits and exceeding market expectations.

• By having a detailed and comprehensive strategic plan document

• When events conform to your expectations.

• By having a large market share and a well-known brand.

What should inform your choices for the elements of a well-considered strategy?

• Your research of the economics and constraints of the market, of the problem, and of the environment

• The historical performance and internal capabilities of the organization.

• The opinions and preferences of key stakeholders.

• The latest industry trends and best practices.

Southwest Airlines uses it as an example of how

• low prices always guarantee success in the airline industry.

• traditional airlines should adopt open seating to reduce costs.

• culture can be used to manage tradeoffs better than competitors.

• large airlines with assigned seating always provide better customer service.