Chapter 7
Models for Strategy Formulation
Introduction
Chances are, most of you describe strategy as a plan—that is, what you are going to do. In the prior five chapters, you have developed methods that led you to thoroughly analyze what is happening in and around an industry. These conclusions or findings will help you build a basis for strategy selection. However, you can’t do everything that might be possible, and trying to do too much can be counterproductive. All firms have limited resources and capabilities, and some choices preclude others. That is, if you choose to do A, you cannot do B, and vice versa—so which is best? Why? Worse yet, it is often the case that managers make choices that conflict with decisions made ...
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