Skip to Main Content
HBS Home
  • About
  • Academic Programs
  • Alumni
  • Faculty & Research
  • Baker Library
  • Giving
  • Harvard Business Review
  • Initiatives
  • News
  • Recruit
  • Map / Directions
Faculty & Research
  • Faculty
  • Research
  • Featured Topics
  • Academic Units
  • …→
  • Harvard Business School→
  • Faculty & Research→
Publications
Publications
  • October 2018
  • Article
  • Management Science

Strategy and the Strategist: How it Matters Who Develops the Strategy

By: Eric J. Van den Steen
  • Format:Print
ShareBar

Abstract

This paper addresses primarily two questions. First, when (and why) should a company’s strategy be developed by its CEO versus by some outside analyst or other insider? Second, how does strategy interact with vision (in the sense of a strong belief about the right course of action)? The paper studies these questions using a functional definition of strategy as “the smallest set of choices to optimally guide other choices.” Among other things, the paper shows that strategy formulation by the CEO leads to both better strategy and better execution, and that a strategist’s vision may improve execution. In the process, the paper also identifies criteria that make a decision strategic and derives explanations why strategies often reflect the background of the strategist.

Keywords

Strategy And Leadership; Strategy And Execution; Strategy; Leadership

Citation

Van den Steen, Eric J. "Strategy and the Strategist: How it Matters Who Develops the Strategy." Management Science 64, no. 10 (October 2018): 4533–4551.
  • Find it at Harvard

About The Author

Eric J. Van den Steen

Strategy
→More Publications

More from the Author

    • March 2024 (Revised February 2025)
    • Faculty Research

    Tesla in 2024: Holding On to the EV Lead?

    By: Ramon Casadesus-Masanell and Eric J. Van den Steen
    • March 2024 (Revised May 2025)
    • Faculty Research

    Tesla in 2024: Holding On to the EV Lead?

    By: Eric Van den Steen, Ramon Casadesus-Masanell and Karen Elterman
    • September 2021 (Revised March 2024)
    • Faculty Research

    Tesla in 2023: 'Electrified' Competition

    By: Eric Van den Steen, Ramon Casadesus-Masanell and Karen Elterman
More from the Author
  • Tesla in 2024: Holding On to the EV Lead? By: Ramon Casadesus-Masanell and Eric J. Van den Steen
  • Tesla in 2024: Holding On to the EV Lead? By: Eric Van den Steen, Ramon Casadesus-Masanell and Karen Elterman
  • Tesla in 2023: 'Electrified' Competition By: Eric Van den Steen, Ramon Casadesus-Masanell and Karen Elterman
ǁ
Campus Map
Harvard Business School
Soldiers Field
Boston, MA 02163
→Map & Directions
→More Contact Information
  • Make a Gift
  • Site Map
  • Jobs
  • Harvard University
  • Trademarks
  • Policies
  • Accessibility
  • Digital Accessibility
Copyright © President & Fellows of Harvard College.