What is Strategy? Pt 1: Define Strategy

What is Strategy? This video covers why defining strategy is a difficult task, reviews traditional but inadequate definitions, synonyms, and the etymology of strategy. Finally, the video discusses a clear and actionable definition of strategy. ⬇️

You can pick up a copy of HBR’s On Strategy here: https://amzn.to/2FWwJBx — it’s a must-read for students of strategy.

Timestamps:
0:25 - Intro
0:48 - Why a definition of strategy is important
1:34 - Bad strategy definitions
1:56 - Bad strategy synonyms
2:16 - Etymology of strategy (Greek to English)
3:18 - Business Literature (HBR & Michael Porter, 1996)
5:16 - My definition of strategy
5:30 - Strategy is a process, not just an outcome
5:42 - Strategy as a set of activities & alignment
6:08 - Definition of tactics
6:37 - Goal of strategy is to occupy a valuable position within a competitive landscape
7:30 - There is no “best” strategy, only the right strategy for your circumstances and goals
7:44 - Strategies are dynamic because competitive landscapes are dynamic & why copy-cat strategies usually fail

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Special thanks to Setuniman (http://bit.ly/2UiaTT2) for the killer opening music.