Product Description:This note gives managers a concrete perspective on what 'a strategy' really is and what makes a decision 'strategic.' It also gives them practical frameworks to assess whether some set of decisions is really a strategy and how to assess a strategy's effectiveness. It finally also gives managers a starting point for developing strategy in the form of the '4+3 Elements.' The note builds on the theory of `strategy as core guidance.' (This is an in-depth rewrite of 'Strategy and Strategic Decisions' HBS 712-500.)