Strategy, Change and Innovation 500 – Strategy Investigation Marking Rubric

Question :  what is strategy(general terms,no need to discuss porters five forces or the resources based view of the firm) what is business model why are the two confused as the same thing compare similarities and diffrences and through that comparison explain why the two get confused How do they complement each other conclusion References should be current-no older than 2010 Strategy Investigation (Individual Assessment) The traditional approach to strategic management relies on an understanding of the external and internal environments of a firm in order to chart an appropriate route to competitive advantage. From the evaluation of the external and internal environments, a firm is able to formulate short and long-term strategies the implementation of which is measured by the firm's goals and objectives.  Complementing a firm's strategy is its business model.  Often, strategy and business models are used interchangeably yet they are not the same things.  A business model details how a firm delivers value to its customers.  One of the key elements of design thinking is a firm's business model which charts how a business delivers value to its customers.  Since we will be using design thinking this semester and analysing a firm's business model, it is important the distinction between a firm's strategy and its business model is understood. The strategy investigation requires you to provide a 2000 (+/-10%) word assignment that details how a firm's business model complements its strategy.  Your assignment will clearly distinguish strategy from the business model but also demonstrate why the two are often confused. This will require you to demonstrate your critical analysis to explain why strategy and business models are often confused.  It is important that you present and evaluate alternative principles and concepts to demonstrate further your critical analysis