As cited in the chapter, Edward Deming, a famous businessman, once said, “In God we trust. All others bring data.” What did Deming mean in terms of developing a strategic plan?
Answer to relevant QuestionsWhat strategies do you believe can save newspaper companies from extinction? Why are policies especially important in strategy formulation? Explain why both internal and external factors should be stated in specific terms, i.e., using #’s, %’s, $’s, ratios, and comparisons over time, to the extent possible. Who are the major competitors of your college or university? What are their strengths and weaknesses? What are their strategies? How successful are these institutions compared to your college? Why is it that a firm can sustain a competitive advantage normally for only a limited period of time?
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