Identifying the strategic issues and problems a company faces and compiling a "worry list" that merits front-burner management attention is an important component of assessing a company's resources and ability to compete successfully because without a precise fix on what problems/issues a company confronts, managers cannot know what the industry's key success factors are and which 2 or 3 strategy alternatives are likely to work best. only after managers have first done serious strategic thinking about how to deal with the items on the worry list are they truly prepared to pick and choose among the alternative strategic actions and initiatives in fashioning an overall strategy that suits the company's situation--the items on the worry list are most definitely a relevant and important part of the company's situation. the "worry list" helps identify which rival companies to attack with new offensive initiatives and also which specific competitive weaknesses to correct. the "worry list" enables company managers to get a clear fix on whether to improve the company's current strategy or, instead, shift to an entirely new strategy. o the "worry list" helps company managers evaluate the company's various strategy alternatives and single out the best strategy for the company to pursue in the years ahead