What is Strategy?

Everyone talks about strategy, but few agree on what it really means. Is it a plan, a vision, a set of choices, or simply a way to win? Over the years, different strategy practitioners have offered different definitions—each highlighting a unique aspect of strategy. In this post, we'll explore different definition on strategy.

"Strategy is an integrated set of hard-to-reverse choices made ahead of time in the face of uncertainty to create and capture economic surplus" - McKinsey

"Strategy is the creation of a unique and valuable position, involving a different set of activities" - Michael Porter

"Strategy is a pattern in a stream of decisions" - Henry Mintzberg

"Strategy is the determination of the basic long-term goals and objectives of an enterprise, and the adoption of courses of action and the allocation of resources necessary for carrying out these goals" - Alfred Chandler

“Strategy is about shaping the future, the human attempt to get to desirable ends with available means” - Max McKeown

“Strategy is a system of finding, formulating, and developing a doctrine that will ensure long-term success if followed faithfully.” Vladimir Kvint

"Strategy is choice. Strategy is not a long planning document; it is a set of interrelated and powerful choices that positions the organization to win." Roger Martin

"Strategy is a futuristic view of a system on why it will win, where it will win, how it will and a set of interrelated wicked choices in the face of uncertainty and incomplete knowledge, usually the system is an organisation or a business" - Esuabom Dijemeni

The many definitions of strategy—from McKinsey to Porter, Mintzberg to Martin—show us that while the language may differ, the essence is consistent: strategy is about making choices today that position you to win tomorrow. Each perspective highlights a different facet:

• McKinsey stresses the importance of making hard-to-reverse choices under uncertainty.

• Porter emphasizes uniqueness through differentiated activities.

• Mintzberg views strategy as an evolving pattern in decisions.

• Chandler highlights long-term goals and resource allocation.

• McKeown frames it as shaping the future with available means.

• Kvint sees it as a disciplined doctrine for long-term success.

• Martin reduces it to a powerful set of interrelated choices.

• Dijemeni underscores its futuristic, systemic, and uncertain nature.

In short, the power of strategy lies not in elegant theory, but in the courage and discipline to make clear, interconnected choices—and to live with them long enough for them to bear fruit. For you, what is strategy?