1. Think about the best and worst companies you know.

What is extraordinary (or

extraordinarily bad) about these firms? Are their strategies clear and focused or
difficult to define?

The infamous downfall of Toys “R” Us will notably my worst company. The former
leader of the toy industry, Toys R Us filed for Chapter 11 bankruptcy in September of
2018 after years of slipping sales and mounting debt. They said Toys R Us has failed to
innovate its business model, incorporate technology or adapt to changing consumer
behavior. Toys R Us has never been able to wrap their arms around the changes
necessary, and this is the inevitable outcome (Cohen, 2018). Comments about the
experiences of their shoppers or customers were mostly about their stores being poorly
merchandised, and customer service was nonexistent. With this weakness and lack of
competitive advantage, amazon stole the attention of the customers. Amazon changed
customers’ expectations about convenience, particularly millennial parents who were a
prime segment for Toys R Us. These parents became Prime members and got used to
the convenience of ordering online (Kahn, 2018). Amazon was able to adapt with the
trend and needs of the customers leading to demise of Toys “R” Us. When the world
went digital, Amazon started to get more digital that’s why it’s the best company for me.

2. If you were to write a “key takeaway” section for this chapter, what would you
include as the material you found most interesting?

One thing I have learned from this chapter is that, when you don’t know where you're
going, any road will take you there. That is why planning and determining your
business’ goal matters. According to The Alternative Board, a written strategic plan,
when done well, is both the forward path and the map itself. It’s the basis for any
business owner to achieve his or her vision. Strategic planning, by helping you refocus
on your foundational purpose, your goals and your opportunities – reintroduces you to
“the big picture.” Putting real effort into your strategic planning process today, and
keeping your plan up to date and relevant, gives you a continued competitive edge. The
demise of the company Toys “R” Us is the evidence that no matter how successful you
are, at some point market changes, customer’s needs rises and trends evolves, if you
are cannot adapt to these changes surpass and outshine you just like what Amazon did.