Strategy Statement - Statements But Not Strategic Objective - Defining the Advantage
7 important questions on Strategy Statement - Statements But Not Strategic Objective - Defining the Advantage
What is the most critical aspect of a strategy statement?
How does the Advantage help employees understand how they can contribute to successful execution of a company's strategy?
The complete definition, and statement, of a firm's competitive advantage consists of two parts, which two and shortly explain them.
- A value proposition: explains why the targeted customer should buy your product above all the alternatives;
- And a description of how internal activities must be aligned so that only your firm can deliver that value proposition.
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What does a simple graphic, that maps your value proposition against those of rivals, help you to do?
What does the second part of the statement, which is not the value proposition, capture?
Where does the strategy statement draw from Porter's definition of strategy as making consistent choices about the configuration of the firm's activities?
How can you support the second part of the Advantage, where the value proposition find its base?
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
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- 100% sure, 100% understanding
