But then, what is strategy?

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Overview of some of the most relevant strategy concepts and definitions

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Okay, but let's start with the basics. What strategy we hear about strategy all the time. It's something that you probably use the word strategy all the time. So what strategy according to some of the big thinkers and people who have been researching strategy, there's one definition here, which is a strategy, an integrated set of choices, a set of choices, that position a firm or a company or organization, in an industry in the environment to earn superior returns over the long run. So you can always when you look at strategy people reflect around or see the picture of chess is what are the moves that you need to do the one or two three moves to get ahead your competition. So that's one of the definitions One of my favorites is Michael Porter obvious the guru of strategy.

He says the essence of strategies in the activities to perform activities differently or to perform different actions. tivities than the rivals? more clear, it's impossible. So it's about making different choices. Personally beyond these gurus, what I've learned when I do strategies in the companies I've worked for is, strategy is painful. What do I mean with painful painful is when you decide something, and you leave other things behind the same?

When I'm going to focus on one thing, I don't know what's going to do with the other so I feel a bit uncomfortable. When you have that feeling of uncomfort. That's because you're really taking decisions, you're making strategic choices, and that's a good sign. So next time you're making decisions strategic, if it feels uncomfortable, you're on the right place.

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