Identify the three components of the business model used by "Tough Mudder LLC: Turning Mud Runs into a Global Business." Distinguish the following concepts, using examples drawn from the case: corporate strategy and competitive strategy, strategy and tactics. What do you think is the role of Tough Mudder's sense of identity ("we know who we are and what we stand for") in influencing the effectiveness with which it implements its strategy?

Then, after reading Drucker's 1994 article, "The Theory of the Business," identify which assumptions correspond to the business model employed by the King of Shaves. Also, identify strategic elements in the basic framework for strategy (Figure 1.5) that correspond to other assumptions of the theory of the firm.