Everybody wants to talk strategy. And when we say "strategy," we know what we mean, but then why do we never agree on what we're talking about? Leaders often define strategy differently, flail around in theoretical conversations, and end up with something so diluted it's not actionable or is a 15-element plan nobody fully understands. And that's before we get stuck while trying to execute.

Strategy is undoubtedly important. The market demands leaders pay close attention to their strategy and make dynamic updates to win in their markets of choice. The challenge is knowing when, how, and how much to rethink it.