Definition of the Business: Any Organization's Biggest Mental Model
Companies have a host of mental models, or sacred cowsthe assumptions no one ever questions, the behaviors everyone takes for granted. But the most dominant mental model any company has is its perception of what business it is in. The definition a company gave to its business, probably a long time ago in an implicit way, today conditions the way that company sees its business, which in turn determines how that company is going to play the game in that businessthat is, it determines the company's strategy.