What is strategy?
— Strategy is a plan to create value by increasing customers' willingness to pay and lowering suppliers' willingness to sell.
How is value defined in strategy?
— Value is the difference between customers' willingness to pay and suppliers' willingness to sell.
What factors contribute to customer success?
— Customers are successful when the price is below their willingness to pay.
How is employee value and customer delight defined?
— Employee value is the difference between compensation and willingness to sell, and customer delight is the difference between willingness to pay and price.
How can an organization increase profitability?
— The profitability of an organization reflects the amount of overall value created, which can be increased by improving product/service quality and other less obvious methods.
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