What is a Business?

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Of the five fundamentals of business, (1) business, (2) business model, (3) business strategy, (3) corporate strategy, and (4) implementation, the most basic is the business. What exactly is a business? (Hint: “Transportation” is NOT a business.)

Understanding what a business is and how the basic elements work together is the bedrock of all strategic thinking. In this video I use a simple one-page picture to describe exactly what a business is and how it works. You can use this picture to “map” your business.

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