A business plan or pitch should be used as a tool for:

a. Planning the required steps for the company to bring its product to market and become financially viable

b. Declaring and monitoring important goals, according to a specific timetable

c. Framing and guiding communications, both internally and externally

d. All of the above

Decisions are made on a daily basis within every position at every company.  Decisions regarding company policy can often create the conflicts that were discussed within last week's forum.  This week, we also read about making financial decisions within a company.  When making a decision that affects multiple departments within the company, it is important to think about the long-term benefits or challenges.  Think back over your professional life...discuss a decision that was made by your company that had an effect on you or your department directly.  What  challenges were created by this decision?  Was your company prepared for these challenges?  How was this decision communicated to the employees?  What could have been improved within this process?

The difference between a company's strategy and a company's business model is that

A)a company's strategy is the plan for achieving strategic objectives while its business model is the plan for achieving financial objectives.

B)the strategy concerns how to compete successfully and the business model concerns how to operate efficiently.

C)a company's strategy is management's game plan for realizing the strategic vision whereas a company's business model is the game plan for accomplishing the business purpose or mission.

D)strategy relates broadly to a company's competitive moves and business approaches (regardless of the financial outcomes it produces) while the term business model relates to whether the revenues and costs flowing from the strategy demonstrate that the business is viable from a profit perspective.

E)a company's strategy concerns how to please customers while its business model concerns how to please shareholders