The ability to frame a situation is an essential managerial skill. Framing entails observing, interpreting, and acting to make sense of a situation. When managers create a frame of reference for a firm's business-level strategy, they are focusing on the key actions that will result in competitive advantage. On a scale of 1 to 5, evaluate your strategic framing skills as you read the following statements:

1 = never 2 = rarely 3 = sometimes 4 = usually 5 = always

1. I can map out how a firm create value for its customers.
2. When evaluating a product, I consider its quality.
3. When studying a company, I try to identify ways that expenses can be reduced.
4. I know how a firm position itself to differentiate its products and services.
5. I realize that some firms are at a competitive disadvantage because they lack a clear strategy.
6. I understand how an industry structure influences a firm's strategy.
7. I understand the rationale for why some firms target a smaller segment of an industry.
8. I recognize that a firm's tangible and intangible resources are an important determinant of competitive advantage.
9. When studying a firm's strategy, I am aware of the primary and support activities needed for implementation.
10. When thinking about a firm's strategy, I consider how the contributions of employees create value.

Based on this assessment, what are your strategic-framing strengths? What can you improve?

Describe your strengths and weaknesses.