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We have revealed new insights by reviewing and integrating the definitions of strategy offered by leading scholars in the field. Part of the confusion surrounding the issue of strategy can be alleviated by separating the concept of strategy from the process of strategy formation. The concept of strategy is presented as a normative model that has validity for all firms. The process of strategy formation, however, is contingent on the firm's particular situation and can be described in terms of the wide variety of forms it takes in different organizations, depending on the firm's strategic objectives, its management style, its organizational culture, and its administrative structure.

In the second of a series of three tutorials, the methodology and strategic implications of the portfolio business matrix are analyzed and illustrations given of the use of the growth-share matrix. Further refinements as well as warnings to prevent misleading conclusions are offered, and the new matrix advanced by BCG for the 1980's is outlined.

institutionalizing ethics, Implicit, Explicit, ethical behavior, ethical model,