Strategy consists of identifying the critical factors in a situation and designing a way to deal with those factors.

It contains three main elements:

  1. Diagnosis: Identification and definition of obstacles.
  2. Guiding policy: Approach to dealing with those obstacles.
  3. Coherent action: Feasible coordinated policies, resource commitments, and actions to carry out that policy.

The thing with strategy is that properly done strategies are either right or wrong.

They’re either right or wrong because they set a direction.

They place a bet.

There’s usually a level of risk involved.

And for this reason, some people will always agree with them and others won’t.

They will always make some people happy and alienate others.

A good strategy represents a decision.

It doesn't try to reach consensus.

Because consensus seeks general agreement and pleases everyone.

What is done is just as important as what is not done.

A good strategy assumes a position.

There’s the risk of being wrong, but then there’s also the possibility of being right.

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