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Senior executives commonly ponder such questions as What might give us continued competitive advantage? and What new product or markets should we enter and how? Both questions go to the heart of a firm's strategic vision. Such a vision can be defined as the shared understanding of what the firm should be and how it must change. This paper presents a framework to answer such questions critically as well as creatively. Knowing the answers constitutes the difference between muddling through and running the business from day to day with confidence and foresight. The method consists of the following four steps:
Paul J. H. Schoemaker (Sun,) studied this question.
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