The video explains the military origins of the term strategy, but then goes on to explain how Michael Porter closed the gap between military and business thinking with his definition of business strategy. Select the option that best defines strategy in the context of business.

Multiple Choice

Generals make battle plans based upon the forces available to them and their understanding of the enemy's forces. Business leaders create strategies based upon their firm's resources and capabilities and their understanding of their competitors' capabilities.

Generals are trying to win battles, against enemy combatants. Business leaders are trying to win market share against competitors.

Battle plans often need to be changed by field commanders due to shifting battlefield realities. Business strategies often have to adapt to changing competitive conditions.

Generals win wars by degrading the enemy's ability and willingness to fight. Businesses win market share by degrading a competitors ability and willinaness to combete.