The book asserts “All strategy stars with the owner.” Many of the gurus of strategy say strategy starts with the environment outside the firm. Which do you think is true? Be ready to back it up.
Answer to relevant QuestionsWhat is the competitive advantage of a business, and how does it lead to success? Think of the life cycles of an industry. Give an example of local businesses that are at the different stages, and be ready to defend your classification. For a business plan being put together by a student in his late teens or early 20s, what are the most likely risks? What is the most important part of a business plan in general? Considering the way you plan to use your business plan, what will be the most important part? List all the products/services you have seen lately that are promoted as new, different, improved or otherwise changed from what has been available before. What percentage of these are actually me-too products? Identify ...
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