During the process of formulating an effective business model, a firm's managers should first
A) transform their strategy of how to compete into a blueprint of actions and initiatives.
B) implement their strategy at corporate, strategic business unit, and functional levels.
C) implement their blueprint of actions and initiatives through structures, processes, culture, and procedures.
D) evaluate the firm's strategy already in effect and take corrective actions if necessary.

Question

Quizplus · Accepted Answer

To come up with an effective business model, a firm's managers first need to transform their strategy of how to compete into a blueprint of actions and initiatives that support the overarching goals. In a second step, managers implement this blueprint through structures, processes, culture, and procedures.

During the Process of Formulating an Effective Business Model, a Firm's