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Strategy

1.1    BUSINESS STRATEGY DEFINED

By strategy we understand the art of conquest by means of a master plan. A strategy may be personal, corporate, or national, or it may be civilian, cultural, religious, or military. Buddha said, “Between him who conquered in war millions of men, and him who conquered himself, the greater victor is the latter.” The conquest of oneself is the supreme strategy.

Some strategies prove to be brilliant; others are dumb or outright disastrous. The error, however, is not always in the master plan. “The value of a strategy is that of the people who apply it,” said Jack Welch, the former chief executive officer (CEO) of General Electric (GE). His dictum applies in the dual sense of

•  successes, and

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