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The Technological Entrepreneur’s Playbook by Ian Chaston

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CHAPTER 7

Strategizing

The Strategy Paradox

The importance of risk management, the exploitation of available information, and providing employees with clear guidance on the relationship between their role and overall aims of an organization means most firms establish a clearly defined, formalized strategy to guide their operations. The purpose of the strategy is to define the benefit that provides the basis for the competitive advantage through which to achieve specified performance. Strategy implementation is achieved through utilization of an appropriate marketing and internal value-added activities (Chaston 2013).

The use of strategy in the real world is evidenced by the fact that, in many major consumer goods companies, annual plans are guided ...

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