Strategy is a set of choices about how to use a System’s resources in a way that maximises its chances to fulfil itsin a given context. If the context is competitive, “the heart of the matter in strategy is usually advantage” (Rumelt 2011).
In a good strategy, one that does provide advantage, the choices
- make a real difference for resource use,
- have a clear relationship to the purpose,
- are based on sufficient awareness of the context.
The core of strategy work is always the same: discovering the critical factors in a situation and designing a way of coordinating and focusing actions to deal with those factors.Rumelt (2011)
On an abstract level, Strategy is a pattern of actions and Strategy is based on models.
On the implementation level, Strategy is a learning process.
- Rumelt (2011): Good Strategy/Bad Strategy