ABSTRACT
This chapter provides information on terms and tools such as multiple interdependent actors, competition and collaboration, manoeuvres, strategic fit, exchange of value, and time. Much of the talk in conventional strategy is around competition and competitive advantage. Strategy tends to be both thought of and executed as a mental construct – 'the plan,' some document, some models, some projections. Leaving strategy as an abstract thought process is one of the mental traps that leads to its divorce from reality. Several well-known writers on strategy have used the term, although its meaning is inconsistent and, outside academe, the term 'strategic fit' gets used for a bewildering array of totally different business issues, many that have almost nothing to do with strategy. Several strategic approaches deal with the concept of value, notably Porter's Value Chain and Value Curve, and Osterwalder's Business Model Canvas.
