A company's strategy has a chance of succeeding only when it is predicated on:
O actions, business approaches, and competitive moves aimed at appealing to buyers and setting the company apart from rivals.
O management's concepts of "where we have been," "where we are headed," and "where we need to go."
O the approval of a business model by a company's board of directors that spells out how to outcompete its rivals and make the company profitable.
O educated choices that management has made regarding which financial and operating plans to pursue.
O building revenues, controlling costs, and generating an attractive profit.