Title: The essence of strategy: The what, the why and the how
Headings: The essence of strategy
The essence of strategy
The what, the why and the how

Content: Moreover, your company's resources are limited. Thus, you can't choose both options, or easily revert your decision once you have started to implement it. When making strategic decisions, it is critical to be clear about options and the trade-offs they entail. On the one hand, we need to ask and challenge ourselves if we have thought broadly enough about potential options. In our personal life, we often find ourselves stuck with the choice of only a few options, such as taking the one new job offer that has come up, or staying with the old one, both of which might not seem to be overly attractive. However, if we take the time to explore, there might be other more attractive options available. On the other hand, we also need to gain clarity around the criteria that matter, and we need to understand what matters most in the specific context we find ourselves in. For instance, at this stage of our career, are we mostly concerned about salary or do we want to spend more time with our family; and, what are the minimum threshold levels that we need to fulfil with regards to other criteria in order to make a choice workable? Getting clarity around potential options and the priorities of criteria is particularly important when there are multiple stakeholders involved in the decision process — be it your management team and other employees in the company, or, for private decisions, your family.