What is Strategy and How Do You Know if You have One?
London Business School
Business Strategy Review, Vol. 15, No. 2, pp. 5-12, June 2004
Strategy bewilders and confuses at every turn. This led the Economist to claim that: "Nobody really knows what strategy is". The chasm at the heart of our knowledge of strategy, argues Costas Markides, requires a return to fundamentals.
What is strategy, really? Despite the obvious importance of a superior strategy to the success of an organisation and despite decades of research on the subject, there is little agreement among academics as to what strategy really is. From notions of strategy as positioning to strategy as visioning, several possible definitions are fighting for legitimacy. Lack of an acceptable definition has opened up the field to an invasion of sexy slogans and terms, all of which add to the confusion and state of unease.
Number of Pages in PDF File: 8Accepted Paper Series
Date posted: June 20, 2004
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