“However beautiful the strategy, you should occasionally look at the results.” — Winston Churchill
What is strategy?
My dictionary says that strategy is:
“A plan of action or policy designed to achieve a major or overall aim.”
Wikipedia says strategy is:
“A high level plan to achieve one or more goals under conditions of uncertainty.”
Those are pretty good definitions of strategy.
But I also like these simple but elegant variations:
“The essence of strategy is choosing what not to do.” – Michael Porter
“Strategy is what you invest in.” — Clayton Christensen
”Strategy is difference / differentiation.” – a smart colleague
“Consistently making those core directional choices that will best move you toward your hoped-for future.” — Erika Andersen, author of Being Strategic
For an incredible primer on strategy, read Michael Porter’s free article, What is Strategy?
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Image by Ekkehard Streit.