Final answer:
The strategy diamond consists of five major components: arenas, differentiators, vehicles, staging, and economic logic. The senior manager failed to mention 'arenas', which represents where the organization plans to be active. 'Competitors' is not a part of the strategy diamond framework.
Step-by-step explanation:
The strategy diamond is a framework for understanding the different parts of a company's strategy. The five major components of the strategy diamond are arenas, differentiators, vehicles, staging, and economic logic. The option not listed among the components she named is arenas, which refers to the areas in which the organization will be active. To clarify:
- Arenas dictate where the company will be active (which market segments, geographic areas, product categories, etc.).
- Differentiators explain how the company will win in the marketplace (unique value proposition, competitive advantages, etc.).
- Vehicles describe how the company will get there (internal development, partnerships, acquisitions, etc.).
- Staging determines the speed and sequence of moves.
- Economic logic lays out how the company will obtain returns on investments.
The term 'competitors' is not one of the components of the strategy diamond, but understanding competitors is critical for developing the differentiators and economic logic parts of a strategy.