• Strategy defines longterm direction of the company and the business model facilitates the strategy as it defines how a firm competes. • Business models comprise the elements of key activities, resources, revenue and costs, value propositions, key partnerships, channels, resources, and customers.
Business Frameworks are useful tools that help you analyze business issues and structure your thinking. Strategy consultants and business analysts often
The strategic framework is a hierarchy. At the top sits the firm’s overall (or generic) business strategy. Here, the aim is the highestlevel business objective: earn, sustain, and grow profits. Some may immediately ask: Exactly how does the firm achieve it’s profit objectives?