Strategy is something often talked about and considered a necessity in business yet is largely misunderstood and misapplied. An effective strategy is the combination of vision, objectives and direction that set the course and tempo of business. Through strategy, businesses have focus that drives their day-to-day operations and clarifies decision-making. Creating effective business strategy isn’t easy, though. Managers can get distracted by legacy interests and short-term incentives. Strategy, when done right, can ensure businesses remain properly oriented toward goals and prepared for near- and long-term market conditions. Thomas Jensen, executive vice president of German systems integrator Bechtle and a veteran strategist of Hewlett Packard and Maersk, joins Pod2112 to share what it takes to understand, build and execute effective business strategy.