Ultimately, strategy is a way of thinking, not a procedural exercise or a set of frameworks. To stimulate that thinking and the dialogue that goes along with it, we developed a set of tests aimed at helping executives assess the strength of their strategies.
The article is also noteworthy for setting forth McKinsey’s original definition of strategy as “an integrated set of actions designed to create a sustainable advantage over competitors” and includes a description of the wellknown “ninebox” matrix that formed the basis of McKinsey’s approach to business portfolio analysis.
Strategic thinking is characterized by an allpervasive unwillingness to expend resources. A strategist is always looking for opportunities to win at low or no cost. Strategic thinking is usually indirect and unexpected rather than headon and predictable.