The Definitive HBR Strategy Glossary

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Our guide to all things strategy, from “adjacency expansion” to “value stick.” by HBR Editors

July 28, 2025

Illustration by Tim Boelaars

What is strategy? This question may be familiar if you’re a seasoned HBR reader: It’s the title of a classic 1996 Michael Porter article on the topic. Famously, he argued that too many companies were conflating strategy and operational effectiveness:

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