“A theory of the business has three parts.”

“A theory of the business has three parts.

First, there are assumptions about the environment of the organization: society and its structure, the market, the customer, and technology. The assumptions about the environment define what an organization is paid for.

Second, there are assumptions about the specific mission of the organization. The assumptions about mission define what an organization considers to be meaningful results—they point to how it envisions itself making a difference in the economy and society at large.

Third, there are assumptions about the core competencies needed to accomplish the organization’s mission. Core competencies define where an organization must excel in order to maintain leadership.”

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“A theory of the business has three parts.”

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