Strategy is word of many-a-meaning. Often thrown in a discussion to bring any sense of progress and action to a halt.
My current understand of strategy…
“In complexity you define a direction of travel, not a goal, because if you start on a journey you will discover things you didn’t know you could discover which have high utility. If you have an explicit goal you may miss the very things that you need to discover.” – Dave Snowden
Strategy is making choices regarding a venture. These choices include hypotheses of which competitive arena you want to be successful in (“where to play”; Roger L. Martin) and how to be successful in that arena (“how to win”; Roger L. Martin).
You formulate the said hypotheses based on your knowledge of the user, the market and relevant trends.
Strategic statements are inherent trade-offs where ventures prioritize one promising thing even over another potentially promising thing.
Strategy is where you make decisions about the intersection of people’s problems and desires, trends and your offerings.
- Explain causality and interdependence