What does the word " strategy" mean in your business ?

In most business I have been exposed to in recent times it is rare to find one that could clearly articulate their current strategy to improve their business performance.

In simple terms, my definition of strategy is that its your game plan to to achieve your short term and longer term business objectives.

It should not be confused with your objectives.

To use a war games analogy, it's similar to deciding if you are going to use ground troops or use the airforce etc.

Many have a strategy but just don't call it that.  It is the failure to engage your staff and implement the strategy effectively that is the real problem.

There is a great article in the latest Harvard Business Review that is worth reading on this topic.