So I made the mistake of switching classes to another time. It's not a huge mistake, but it did make all homework that was due on Monday for me due tomorrow. This means I had to read 2 chapters and make this blog entry before 7:00. I can promise you, I would have had more insights had I had more time to prepare, but seeing that I... excuse excuse excuse. Here we go.
1. Role of Value Creation and Mgt
Value can be defined by so many people, but it needs to be created by all parties involved with the company. That includes the customers as well as those that work for it. Even investors. The management of resources effectively creates value.
2. What makes a strong Business Model
A business model that has a basic principle behind it allows for adaptability is the strongest. If you stray to far away from your original model people loose trust in you, like when a band changes its style of music. Another aspect of strong business models is that it it is unique enough to not be to far ahead of the curve but put into place those movements.
3. Key Principles of effective Strategy?
Positioning is one of the most prevalent key principles. Like it says in the book, there are some proverbial forks in the road that you have to choose and then stick with it.
Thursday, April 22, 2010
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