Strategy and Competition

Strategy is the plan a business or individual develops to achieve their goals, such as gaining a competitive advantage or increasing success. Competition involves different entities vying for the same resources, customers, or market share. Effective strategy considers competitors' strengths and weaknesses, aiming to differentiate or outperform them. Together, strategy and competition shape how businesses position themselves, innovate, and adapt, ultimately affecting who wins or loses in the marketplace. In essence, strategy is the roadmap, while competition is the landscape through which that roadmap is navigated.