A strategy delineates a territory in which a company seeks to be unique.

The underlying principles of strategy are enduring, regardless of technology or the pace of change.

The ability to change constantly and effectively is made easier by high-level continuity.

A strategy delineates a territory in which a company seeks to be unique.

You can't be all things to all people.

Risk is a function of how poorly a strategy will perform if the 'wrong' scenario occurs.

If your goal is anything but profitability - if it's to be big, or to grow fast, or to become a technology leader - you'll hit problems.