Is Strategy a Bad Word?

In this MITSloan Management review, the folks from RedefiningStrategy.com ask the question: "Is Strategy a Bad Word?"

Their premise?

"The frequent failure of strategy might lie in its very definition, which historically implies short-term victory over competitors rather than long-term vision and lasting success."

"By contrast, sustainable success is not, and cannot be by definition, an end unto itself or a goal to achieve. That is, goal orientation becomes arguably inappropriate when success has to be indefinitely sustained."

BOTTOMLINE: "To create sustainable, long-term success, an organization must first and fundamentally understand and relate to its customers. It is the ongoing cultivation of that understanding — based neither on specific competitors nor temporal objectives — which must be at the heart of any real strategy. "