Fundamental questions of Strategy

At the level of individual businesses :

1. Who is the target customer?
2. What is the value proposition for this target customer?
3. What are the essential capabilities required to deliver that value proposition?

At the level of the corporate headquarter:

1. What businesses should the company be in?
2. How should the company add value to those businesses?

BIBLIOGRAPHY
1. Ken Favaro "The two levels of strategy", [Strategy+Business Apr 27, 2012]