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Running Head: BUSINESS STRATEGIC PLANNING QUESTIONS

Business Strategic Planning Questions
Institutional Affiliation
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BUSINESS STRATEGIC PLANNING QUESTIONS

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1. LO 5-4Applying a balanced scorecard to assess and evaluate competitive advantage.
A balanced scorecard tries to give an additional analysis of competitive
advantage by connecting numerous internal and external performance scopes for
balancing both strategic and financial objectives. When developing strategic goals for the
scorecards approach, managers try to answer four questions; (i) how do customers
perceive us? (ii) How do we build value? (iii) What main competence do we require? (iv)
How do shareholders perceive us?

2. LO 5-5Applying a triple bottom line to assess and evaluate competitive advantage.
In today's business, managers are expected to maintain and improve not only the
organizational economic performance but also its ecological and social performance. It's
quite evident that non-economical factors can influence organizational economic
performance, its customer's goodwill as well as its reputation. Three dimensions namely;
ecological, social and economical make up the triple bottom line. When the three dimensions
attain a positive outcome; it pilots a sustainable strategy that can endure for a long time. By
use of this triple bottom line approach, managers can track financial performance of the
organization; they can also audit how the organization is fulfilling its social, ecological and
economic to stakeholders, customers, suppliers, customers, it also gives how business models
put strategy into action; again, it dictates how organization does business with suppliers,
customers, for instance, an organization can choose to pay as you go basis, subscription,
razor- a razor blade, etc. (Galankashi et al.,2018).

3. LO 5-6Using the why, what, who, and how of business models framework to put t...