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Frame: Why the Numbers Come Last

The reflex to reach for the scoreboard

A process with nothing in it

Where a judgment about a business begins

Model: Two Elements, Ten Questions

Activities: the work a company repeats

Assets: what the company owns or controls

Five questions each, and the order between them

Practice: The Activity Map and the Asset Ledger

Procedure one: mapping what the organisation does

Procedure two: the asset ledger and the value screen

Worked Example: a community music school

Practice: two drills

Judgment: Controlled Does Not Mean Guaranteed

Decision certainty and outcome uncertainty

Check: work, not a resource

Three ways this analysis goes wrong

Check: the payoff is not certain

What the two elements cannot settle

Check: a wish with no route

Check: eleven facts, no diagnosis

Check: starting from the shelf

This module introduces the first two elements of the Strategy Script—Activities and Assets—showing why an analysis that starts with the numbers has already skipped the two things a firm actually decides about, and how to tell what a business does from what it owns when the same fact can look like either.

The first two elements of the Strategy Script — Activities and Assets — and why an analysis that starts with the numbers has already skipped the two things a firm actually decides about. What a business does, what it owns, and how to tell one from the other when the same fact can look like either.

What a Business Does and What It Owns

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