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Strategy in Practice: A Practitioner's Guide to Strategic Thinking, 3rd Edition by George Tovstiga

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Chapter 4Insight-Driven Strategic Analysis

All models and frameworks of analysis are inherently flawed; some are nonetheless useful.

—Anonymous

Strategic analysis is about sense making. It is about making sense of all those elements in the firm's competitive environment that are relevant to its current and future competitive position. These elements might be external to the firm; they might relate to the emergence of new opportunities, but they might also relate to potential threats to the firm's current position of competitive advantage. Elements relevant to the firm's competitive position also include factors internal to the firm; specifically, these have to do with the firm's ability and disposition to respond appropriately to changes in its external competitive context. Hence, ...

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