For leaders, a well-defined business strategy serves multiple purposes: - Direction and Focus: It offers a clear path for the company, helping leaders make informed decisions and stay focused on key objectives. - Competitive Advantage: It helps identify unique value propositions and differentiators that set the company apart from competitors. - Resource Allocation: It assists in the optimal distribution of resources, ensuring that the most critical areas of the business receive the necessary support. - Risk Management: A sound strategy allows leaders to anticipate risks and develop contingency plans, reducing uncertainty and enhancing stability.