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What is a Strategy?

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A strategy is a plan for the future that is designed to be actionable and realistic given constraints, competition and obstacles. This is typically shaped by goals, future forecasts and the competitive environment. In some cases, a strategy is based on patterns that have worked in the past.

Strategy vs Tactics

Strategies can be compared to tactics. The difference between the two is defined by their time horizon. Tactics take advantage of situations as they arise. Strategies are future plans that may look months or years ahead. As the future is always uncertain, a strategy always involves risks. In many industries, it is common for strategies to change on a regular basis as the competitive environment shifts.
Overview: Strategy
Definition (1)
A plan for the future that is designed to be realistic given constraints, competition and obstacles.
Definition (2)
A pattern of action that has worked in the past.
Related Concepts
More about strategy:
Business Context
Cut And Run
Do Nothing Strategy
Grand Strategy
Paradigm Shift
Strategic Control
Strategic Dominance
Strategic Drivers
Strategic Planning
Strategy Failure
Strategy Risk
SWOT Analysis
Underpants Gnomes
More ...
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