What is strategy?

Published on August 29, 2021   8 min
Greetings and welcome to the "Strategy in Practice" series. My name is George Tovstiga and I am of Professor of Strategy at EDHEC Business School in France. In this series, I will be sharing with you my perspectives on strategy and strategizing. The drawn insights and experience I've gained over the years in strategy, consulting, strategy teaching, and at least from strategy practice from whence this series takes its name.
The series presents key themes dealt with in my book entitled "Strategy in Practice", published by John Wiley and Sons. It begins with the question, what is strategy? In further sessions, we explore the roles of strategic thinking and strategic analysis and sense-making. In the final two sessions, we examined how analysis then contributes to the formation of strategic options, how these are evaluated, and ultimately how on this basis, strategic decisions are made. Let's get started.
Although strategies has been around since the beginning of time, whether for survival or for conquest. It was only in the late 18th century that the word strategy actually began to be used and then in a military context. In the field of business management the term strategy, emerged only much later, in fact, only a few decades ago. This, notwithstanding the question, what is strategy, still remains contentious and subject to much debate. In this session, we will explore this question by examining some key attributes of strategy. From these, we then develop a working definition of strategy.