In many situations, the main impediment to action is the forlorn hope that certain painful choices or actions can be avoided—that the whole long list of hoped-for “priorities” can all be achieved. It is the hard craft of strategy to decide which priority shall take precedence. Only then can action be taken. And, interestingly, there is no greater t

Qualities of great strategy: p roblem-oriented: clearly identifies the problem; i nsight-driven: rooted in insights, both quantitative and qualitative; actionable: outlines concrete actions/investments that will solve this problem; focused: has a small number of high-leverage bets; cohesive: create a clear path from the problem to the solution.

When there are many conflicting desires, and conflicting theories about how they can be met, the consequences are indecision and myopic vacillation among various half measures. Creating effective strategy in such situations is extremely difficult or impossible. The central challenge is not the outside world but the conflicting mix of values and pur