What is Business Strategy? A simple business strategy definition!

What is business strategy? This video answer that question. It offers a simple business strategy definition beyond the blah blah you often hear.
Business strategies are crucial and it starts by understanding what business strategy is all about.
Enjoy!
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My blog: jeroen-de-flander.com/blog/
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[@MrZinoh]

There is a choice on what to make and there is another kind of choice on how to make it!! When you said your strategy was to reach 50 student in 50 countries before you're 50 this is not a strategy, I would call it a goal!! Strategy is a choice on how to not what to!! For example if I said I want to go to Las Vegas on a weekend then this is my goal but how to get there without getting stuck in traffic, without spending time in the rest area, without spending too much money on the way for food and gas, who should I take with me to keep me focused and what kind of car should I drive that can serve my purpose?? ... now the answers to all those questions is your strategy. It is a multiple choices on how and when can you reach your company goals!! That's my opinion.😊

[@jeroendeflander6137]

Thx, Raj. I agree that competition plays a crucial role. It will always influence your choice. A business strategy is always developed in relationship with others.

[@TheAngelina79]

Thank you - this was very helpful for someone just starting in the corporate world and trying to understand business lingo.

[@sansha2687]

Beautifully Explained Jeroen. Dear Raj, The goals cannot be seperated from Strategy, It is in fact the steering wheel of StrategyVehicle

[@rajbeekie7124]

To me, a strategy is more than a choice. Strategy is about competition and how you will out-compete your competitors as you gain market share, maximize profits, etc. Making 200 doors a year is a goal. It is not a strategy. A person can have a plan, goals, objectives, etc. if it is not in relationship to the competition it is not strategy. Yes, strategy is an overused word.

[@lulamilegivenmbetshu3327]

Perhaps yes Raj, but the most appropriate way of outwitting competition you may have to decide on, is a choice because you have chosen it among a variety of alternatives. The ways with which you may have decided upon to increase market share and accelerate profit maximisation are also choices. I think the significance of understanding and defining strategy as a choice is to guide a decision-maker to make informed and intelligent choices. By that, I mean obtaining clarity of what you are ''not going to do"" at all like trying to satisfy the needs, demands and preferences of the entire global heterogenous aggregate market. Because, any attempt in striving to please everybody signifies an absence of strategy because there are no choices made!

[@elethunkala8885]

Very useful. Im tasked to develop a strategy for delivering a program to a cohort of young change makers in an NGO sector, i just wanted to revise what it means

[@sarasarbandi9304]

Thank you - this was one of the best and simplest explanations of business strategy.

[@gopalshanmugam1004]

Thank you. It is a very good explanation about strategy.

[@rajivghanekar1326]

Thank you and so simplistically explained

[@lunamorris2091]

I like your video presentation. It is informative too, at the same time. Thanks a lot for your guidance!

[@Marto.Sparto]

This is a big help, thank you!

[@alanrmurphy]

Thank you, this was a useful summary

[@jmgiraldo125]

Great video Jeroen! Congrats! One question: Whats the source of the information about how long a strategy can last? Thank you in advance for your response

[@friendbook168]

Meaningful

[@QFGEE]

That rule of "No" is quite profound really, can be equally applied to life in general. What am I NOT going to do with my life?

[@lorenzosegatta4031]

I need to study it!

[@WorkLifeBalanceTips365]

Good insights

[@nilenda2032]

Thank you.

[@sokcheath3154]

business strategies is interesting

[@alexlopes5052]

Dank je, super goed, I've gone back to uni to study business and BS is a module at the moment, your explanation and examples are tremendous, A. in Hong Kong

[@mansamusa6505]

You sure you not in Orania lmao

[@ntcuong01ct1]

Dear Friends, I have a question: When creating Strategic Business Units (SBU), should they examine the market size, size and complexity of the company?. Could you help?. Thank you.

[@ntcuong01ct1]

Dear Friends, The XYZ company have 2 business units: car, steel. Head-quater of it stay in Singapore. in 2021 year, this company want to expand business to USA, Japan. I know the company-level strategy is expansion. What's business-level strategy?. Thank you.

[@meilyakaryaputri3483]

Plan-strategy

[@isaaccorradi7564]

I'm in Australia, so add me to your list of 50 countries!

[@naefalzekri7187]

strategy : 1/ plan . 2/ process. 3/ activities 4/management اختر الاجابة الصحيحة

[@kimmanning2913]

Simple ain't complicated.

[@cnmg7121]

you still haven't define strategy...