Business Model vs. Strategy

TASA ID:

Two terms that may get confused in business are business model and strategy. These terms may get switched or blended together, which is not ideal for business development. The video above from Harvard Business Review points out that a business model is a description of how a business runs, and a strategy is how a business will operate better than rival businesses. Successful companies separate these terms and know that they work together, but are not the same. The video highlights companies that have used it to their advantage, and ones that have not differentiated the terms.