A version of this article appeared in the May 2002 issue of Harvard Business Review.
Joan Magretta is a senior associate at the Institute for Strategy and Competitiveness at Harvard Business School. She is the author of Understanding Michael Porter: The Essential Guide to Competition and Strategy.
The Idea in Brief
The terms “business model” and “strategy” are among the most sloppily used in business. People use them interchangeably to refer to everything—so they mean nothing.
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