Strategy and Strategic Thinking

This note gives managers a concrete perspective on what ‘a strategy’ really is, what makes a decision ‘strategic,’ and what ‘strategic thinking’ means. It also gives them practical frameworks to assess whether some set of decisions is really a strategy and how to assess a strategy’s effectiveness. It finally also gives managers a starting point for developing strategy in the form of the ‘4+3 Elements.’ The note builds on the theory of ‘strategy as core guidance.’ (This is an in-depth rewrite of “Strategy and Strategic Decisions” HBS 712-500.)