1. What do we mean by strategy?
2. How does a business model differ from a strategy?
3. What are the strengths of formal strategic planning? What are its weaknesses?
4. Can you think of an example of your own life where cognitive biases resulted in you making a poor decision? How might that mistake have been avoided?
5. Discuss the accuracy of the following statement: "Formal strategic planning systems are irrelevant for firms competing in high-technology industries where the pace of change is so rapid that plans are routinely made obsolete by unforeseen events".
6. Pick the current or a past president of the United States and evaluate his performance against the leadership characteristics discussed in the text. On the basis of this comparison, do you think that the president was/is a a good strategic leader? Why or why not?
7. What is strategy formulation?
8. What is strategy implementation?
9. Why, or why not, strategy formulation and strategy implementation may be separated or integrated?
10. Criticize the strategy-making process discussed in the textbook.