Chapter 1 - Introduction / Classes 1 & 2 - Tensions in Strategic Management

What definition of strategy does De Wit & Meyer give?

“A course of action for achieving an organization’s purpose.”

Why take a course on strategy?

To understand strategic language, participate in processes, and use strategy to advance careers and organizations.

What are wicked problems?

Problems with interconnectedness, uncertainty, ambiguity, conflict, and social constraints; no single correct view.

What causes greater “wickedness” in problems?

More regulations, global markets, the internet, larger organizations with multiple products and locations.

What is the role of assumptions in strategy?

Assumptions shape thinking and outcomes; being mindful and questioning them is critical.

What warning did the professor give about strategy?

“Don’t be a zombie, sheep, or lemming” — mindless strategists are weak strategists.

What quotes from ancient strategists illustrate strategy origins?

Pericles: “Opportunity waits for no man” / “Do not make any conquests during war.” | Epaminondas: “Defeat the enemy at the strongest point, not weakest.” | Alexander the Great: “Decisions can only be made when circumstances arise.”

How did Machiavelli and Sun Tzu view strategy?

As warfare and power struggles — focused on defeating or surviving enemies and maintaining control.

What are the three dimensions of strategy?

Strategy Process (how), Strategy Content (what), Strategy Context (where).

Why must all three dimensions be considered together?

They interact like length, width, and height of a box — ignoring one gives an incomplete view.

What tension was shown in the “Everyone Has a Number” game?

Substance–relationship tension (balancing outcomes with maintaining relationships).

What were the lessons from the Treasure Game?

Strategy depends on cooperation vs competition, thinking vs imitating, and the role of rules.

Why are dialectical approaches useful in strategy?

They highlight contrasts, stimulate creativity, and help integrate opposing perspectives.

What are strategy problems?

Puzzle (single solution), Dilemma (either/or), Trade-off (balance), Paradox (creative both/and).

How should paradoxes be approached in strategy?

By creatively reconciling opposites, knowing no final answer exists, but some reconciliations work better.

What are four arguments for why strategy matters to careers?

Creating strategy in organizations, thinking strategically, evaluating companies we work for/invest in, and managing our own careers.

What is the course focus according to the professor?

Learning strategy as a process of solving wicked problems and gaining competitive advantage.