The essence of strategy is making choices (what to do and what not to do) to increase the odds of the future success of your business.
The central questions are:
- What are your aspirations & concrete goals?
- Where to play (and where not to play) to meet your goals?
- How to win where you choose to play (how to obtain competitive advantage)?
- Where to allocate your resources to maintain / obtain the capabilities that are required to win?