Richard P. Rumelt
Most organizations mistake vague goals, inspirational visions, and financial targets for strategy. Real strategy identifies a critical challenge and coordinates specific, focused actions to overcome it.
Bad strategy relies on superficial buzzwords, ignores the actual obstacles facing the organization, and substitutes wishful thinking or financial targets for actionable plans.
A proper strategic diagnosis simplifies the overwhelming complexity of reality by identifying the root causes of the organization's problem and defining a specific domain of action.
A guiding policy channels an organization's efforts by establishing an overall approach to overcoming the diagnosed obstacles while deliberately ruling out conflicting actions.