Building Margin

102: Strategy Trivia You Must Know

6 snips
Mar 4, 2025
Test your knowledge in this interactive trivia challenge on business strategy! Discover the key differences between strategy and strategic planning. Learn how to effectively assess whether your company’s strategy is succeeding. Dive into the significance of return on invested capital (ROIC) and how it reflects a company's strategic approach. Plus, there’s a chance to explore the fundamentals of cash flow management for building resilient businesses. Whether you're a novice or a pro, there's something for everyone!
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ADVICE

Strategy vs. Planning

  • Differentiate between strategy and strategic planning.
  • Strategy defines where and how to compete, while planning outlines execution.
ADVICE

Define the Problem First

  • Define your strategic problem before exploring options.
  • This problem is the biggest obstacle preventing your company from reaching its full potential.
INSIGHT

IAR Framework

  • IARs (Initiatives, Actions, Results) is a framework for strategy execution.
  • Initiatives are broad moves, actions are steps to advance initiatives, and results measure success.
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