"Pandora, Sirius XM, and Over-the-Air Broadcast Radio: Three Contrasting Business Models.

• What are the 3 components of the business framework described?
• Do the three companies apply the value-price-cost framework the same way to achieve business results?

FIGURE 1.2 A Company's Strategy Is a Blend of Proactive Initiatives and Reactive Adjustments Abandoned strategy elements Deliberate Strategy (Proactive Strategy Elements) New planned initiatives plus ongoing strategy elements continued from prior periods A Company's Current (or Realized) New strategy elements that emerge Strategy as managers react adaptively to changing circumstances Emergent Strategy (Reactive, Adpative Elements) A company's strategy is shaped partly by management analysis and choice and partly by the necessity of adapting and learning by doing