In business strategy creates something. ?What is the purpose of a business’ strategy and why is it important? Q2) How

100 Words each

Q1) In business strategy creates something.  What is the purpose of a business' strategy and why is it important?

Q2) How does differentiation create a competitive advantage?

Q3) One of the main leadership traits I was taught years ago is "Know yourself and seek self improvement."  That's basically what this concept is about.  However, how does a business do this? 

Q4) The goal of managers of a business is to grow the business and increase profits.  What are business ethics and how should they be instituted to ensure the business is operated in a proper manner to achieve long term growth?

Q5) Managers have a fiduciary responsibility to investors.  That means they need to make sure that the investors financial interests in the firm are looked after.  In order to do that – management must act in the best interest of the businesses long term goals.  Sometimes decisions for long term success could affect a manger's short term financial interests – like a bonus.  Would it be ethical to make that decision that hinders the long term growth for my personal gain?