A good strategy recognizes the nature of the challenge and offers a way of surmounting it. Simply being ambitious is not a strategy.

... the term “strategy” should mean a cohesive response to an important challenge.

Good strategy works by focusing energy and resources on one, or a very few, pivotal objectives whose accomplishment will lead to a cascade of favorable outcomes.

Unless leadership offers a theory of why things haven’t worked in the past, or why the challenge is difficult, it is hard to generate good strategy.

Strategy involves focus and, therefore, choice. And choice means setting aside some goals in favor of others.