• Consider how strategy impacts your work/organization. How would you describe your organization's value proposition and its strategy? Is your value proposition valid? compelling? differentiating? Are you clear on your firm's strategy to deliver on that value proposition? (If you are not you are in good company - in a recent study by McKinsey, almost 80% of the top execs they interviewed could not state their strategy - and they make the big bucks!) Are other stakeholders clear on your firm's strategy?
• From the elements of strategy discussed in Chapter 1, how has your firm developed value through strategic actions? What is the biggest strategic challenge for your firm?
• In Chapter 1, the authors discuss the I/O model and the Resource-Based View (for above-average industry returns)- in looking at your organization, which theory would best explain your organization's ability to compete in the industry? Are your returns more reflective of positioning in a solid industry or from your internal abilities to outperform the competition