Item 2 The heart and soul of a company's strategy-making effort Multiple Choice is figuring out how to become the industry's best-cost provider. is figuring out how to develop a winning customer value proposition and profit formula. concerns how to improve the efficiency of business operations. deals with how management plans to operate in a socially responsible manner, while keeping the company's prices as low as possible. is the actions and moves in the marketplace that managers take to gain a competitive advantage over rivals