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The essence of strategy is choosing what not to do.

Strategy is, at some level, the ability to predict what's going to happen, but it's also about understanding the context in which it is being formulated. And then you have to be open-minded to the fact that you're not going to get it right at the very beginning.

Finally, strategy must have continuity. It can't be constantly reinvented.

Strategy is about making choices, trade-offs; it's about deliberately choosing to be different.

Strategy requires thought, tactics require observation.

Tactics mean doing what you can with what you have.

You build your own strategy. You don't define it by what another competitor is doing.

A strategy is something like, an innovative new product; globalization, taking your products around the world; be the low-cost producer. A strategy is something you can touch; you can motivate people with; be number one and number two in every business. You can energize people around the message.

It is necessary to develop a strategy that utilizes all the physical conditions and elements that are directly at hand. The best strategy relies upon an unlimited set of responses.