Before anwering the question, “how to create the best strategy”, one needs to answer the simpler question: “what is strategy”.

Strategy is nothing but the choices that we make about the long term. The options we choose, knowing well that there is nothing inherently right or wrong about the options which are available before us. Knowing fully well that we may not have all the information that we would like to have to make those choices.

And, strategy is all about making trade offs. If choose option A, we give something in favour of something else. If we choose option B, we give up something else, in favour of something.

So, now that we know what is strategy, how do we create the best strategy?

The funny thing is, there is nothing called as the ‘best’ strategy. You will have to choose the better of the options available presented to you as you see them. It may or may not be the best one in the long run!