The document discusses definitions of strategy and concepts related to strategy such as vision, mission, and business models. It provides examples of the mission and business model of IMVU, an online social platform, and IMVU's strategy to expand its user base and revenue.

1. What is strategy? 2304 Media Management Robert Borowiecrobbor@kth.se

2. Common keywordsused in definitions: Enterprise, firm,organization, management Activities, choices, action, plan, elements, operation, logic, valuecreation Achievegoal, return on investment, economicvalue, being different, unique/valuable position, superiorperformance, performbetterthan rivals Strategy 1 2 3

3. Otherconcepts Vision Mission Strategy “Vision dictates Mission which determines Strategy, which surfaces Goals that frame Objectives, which in turn drives the Tactics that tell an organization what Resources, Infrastructure and Processes are needed to support a certainty of execution.” (Mike Myatt, 1988)1 Interesting alternative Business modelStrategy Strategy Business model “[…] combinations of business models could be used for ‘designing’ strategy: thinking in terms of combinations of business models could enable strategists to mix and match various combinations of business models to create new strategies for new and existing businesses” (Peter B. Seddon and Geoffrey P. Lewis, 2003)2 “[Strategy] is a contingent plan as to how the business model should be configured, depending on contingencies that might occur.” (Ramon Casadesus-Masanell and Joan EnricRicart, 2010)3 1. http://cpnmhn.typepad.com/management_matters/2007/09/what-is-the-dif.html 2. http://www.pacis-net.org/file/2003/papers/e-business/219.pdf 3. http://www.ssemm.se/wp-content/plugins/download-monitor/download.php?id=4

5. Profit by microtransactions

6. … by ownitemsbutalsoletuserscreateitemsthatare sold tootherusers and imvutakes a ”wholesale” fee.21. http://www.startuplessonslearned.com/2009/04/product-development-leverage.html 2. http://www.engagedigital.com/2009/04/13/imvu-making-at-least-17m-montly-with-usermade-virtual-goods-2/

7. imvuInstantMessagingVirtualUniverse Strategystatement Reach out globally and gain recognition of older and male target groups. To become and stay the largest Virtual World that allows member-developed content and have a $40 million annualized revenue run rate.1 1. http://www.insidesocialgames.com/2010/04/30/social-gaming-roundup-imvu-lawsuits-bungie-and-more/