The Ten Myths of Strategy

Strategy is full of myths; assumptions that we mistakenly hold. Not just now, but already for decades. Being aware of them is critical and breaking them is even more important. Because they seriously get in the way of success. These are the ten most persistent ones that I have seen over the past decades.

Myth #1: Strategy Is About War

While strategy certainly has its role in warfare, and while there is a lot of wisdom in military works about strategy which is applicable in today’s organizations, the warfare connotation of the word “strategy” is misleading because business strategy has developed in the 1970s (not 1000s of years ago) and focuses on unique value creation, not on annihilating the enemy.

Myth #2: Strategy Equals Planning

Planning may follow strategy, but it is not strategy itself. Strategy is about getting the business logic of an organization clear; how it creates and captures value in a unique and sustainable way. Planning is about turning that strategy into goals, KPIs and deadlines. The two are entirely different.

Myth #3: Strategy Starts With Goals

Defining goals in a vacuum while sitting in a room doesn’t work. Of course goals are important, but so are a solid understanding of an organization’s current situation, ideas, aspirations, and taking action. The reality is that all happen in parallel, not in a clear linear sequence.

Myth #4: Strategy Should Be High-Level

There’s the strange idea that as soon as something becomes concrete and clear it is not “strategic” anymore but “tactical” or even “operational.” This is nonsense because it would imply that a strategy must be unclear by definition. Like in many aspects of life, also in strategy the devil is in the details.

Myth #5: Strategy Should Be Simple

A slogan or high-level statement can be a neat and inspiring summary of a strategy, but it is not the strategy itself. Strategy is like a book: you need an attractive title and cover, a clear and simple summary, a table of contents outlining the structure, and the actual content. Books are never simple and strategies aren’t either.

Myth #6: Strategy Resides At The Top

Strategy is one of the most complex aspects of business because it touches and integrates everything an organization does. Leaving this to just top management is quite absurd if you think about it. Exactly because it is so complex, we need the intellectual power of an entire organization to shape and deliver it.

Myth #7: Strategy Can Be Made By Consultants

Being a strategy consultant myself, I’d be a hypocrite if I’d say that strategy consultants are of no use. Of course they are—or at least the good ones. But rather than creating a strategy for an organization, they co-create it with them, bringing in their unique expertise about strategy and how to create and execute it.

Myth #8: Strategy Derives From Data

There’s often a bias toward data collection, analysis and extrapolation in strategy. But data is very limited. It is about the past, while strategy is about the future. Furthermore, strategy is about aspirations, hopes, intentions, relationships, and values as well. Data cannot provide that. People can. This is why we need a more human-centered approach to strategy.

Myth #9: Strategy Requires Offsites

Strategy retreats are too often primarily inspiring rituals without much true impact on an organization and its strategy. This is because putting people in a hotel room for one or two days does not lead to a proper strategy. This requires more time and more involvement of more people who are typically not at the retreat. Retreats may be one step in this and are optional.

Myth #10: Strategy Should Be Formulated

A challenging one. As long as we treat strategy as an exceptional process that we engage in every now and then, strategy needs to be formulated. But, once we have turned strategy into an ongoing and organization-wide business process it can become like quality management and continuous improvement, within a constant focus on the next thing to focus on. When that is achieved, a formulated fully strategy is no longer needed.

I know, this is a lot to digest. You may not agree 100% immediately, but give it some time and you will start to see that these are mostly myths and not truths.

Want to learn (and do!) more? Here's what you can do:

Try my book, “Unlearning Strategy.” It’s a short little book explaining these 10 myths, with more detailed reasons why they are wrong. Plus it outlines an alternative view to strategy that, in my view, is much closer to how strategy really should be done in organizations today. It’s available on Amazon via this link: https://www.amazon.com/Unlearning-Strategy-Persistent-Forget-Immediately-ebook/dp/B08PDGXP4L

or

Join our Strategy Reinvented conference on April 10-11 2025 in Amsterdam. Whether you are a strategist, consultant, executive, or an emerging leader, the Strategy Reinvented Conference offers unparalleled opportunities to gain cutting-edge insights and network with peers who are at the forefront of strategic innovation. All information and registration is available at https://www.strategy.inc/conference (and take notice of the October early bird discount!)

Further reading

• Why a Plan Is NOT a Strategy
• What Is a Good Strategy?
• Strategy and Implementation
• The Four Drivers of Strategy and Implementation Consulting
• Master of Four
• The Elements of Human-Centered Strategy