BU481 Chapter Notes - Chapter 2,3: Value Proposition, Focus 3, Starbucks
Document Summary
Strategy of a business or to describe its strategic intentions: goals, product market focus, value proposition, core activities. Establish, sustain and monitor the direction of their business. Retrospective: the concept of strategy provides a based point for organizing and discussing your understanding of what a business is all about. Prospective: starting point for analyzing and debating choices that affect the future direction of the business. Vehicle for you to translate general ideas about direction and performance. If a vision or mission exists, it is quite possible that the goals will develop as a natural extension. The value proposition is often easier to articulate when you focus on how value is created in the eyes of the customer. Strategic goals are an expression in measurable terms of what a business intends to achieve- absolutely and relative to competition. Soft goals: more difficult to state in measurable terms, which may be another reason why they are often overlooked.
