What is strategy?

Our chapter is Defining the Organization’s Strategic Direction, but before that step there is a very important point that many business owners fail to understand which is have a clearly vision of what strategy is. I found a video called “What is strategy?” on youtube where Michael Porter during a lecture in London explains what strategy is. The most important thing that caught my attention in this video is how companies confuse strategy with goals, objectives and other issues. It was great to find this video because it completes our book information’s and you start to look at some steps taken by organizations from a different perspective.

Continuing with defining organizations strategic direction, we can say that since the development of the five forces by Porter, it became a crucial framework for the industry analysis and business strategy development. In other words, it can help evaluate the behavior of organizations identifying their competitive position in the sector in which it operates.

The video link:
http://www.youtube.com/watch?v=ibrxIP0H84M