Great idea, Erik! Before we get started, let me introduce you to Josie Goodman who is interning with me right now. Josie Goodman wants to learn more about strategy especially as it relates to the global marketplace, so this is great timing.

Narrator

Josie Goodman, how do we define strategy in a business?

The percentage increase in net profits over time.

The rate of return that the firm makes on its invested capital $($ROI$).$

The actions that managers take to attain the goals of the firm.

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