70.2K

Verified Solution

Link Copied!

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

1. What question does a company’s business model address? What areits elements?
2. What is the difference between a strategy and a businessmodel?

2. Discuss the following statement: “If you do the same thingsas 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 ourclass discussions.

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

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

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

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

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