Executive students at both our institutions inspired the writing of this book. Its content and structure reflect their probing questions, many constructive suggestions, and demand for practical examples. At the same time, we have worked hard to differentiate this book from rival entries by keeping it short, maintaining a conversational style, and adopting an executive orientation.

Every company claims to have a strategy although it may not always be explicitly articulated. In Chapter 1, “What is Strategy?”, we define strategy as the deliberate act of positioning a company for competitive advantage by focusing on unique ways to create value for customers. In doing so, we distinguish strategy from business models and tactics. We also differentiate ...

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