There are three popular interpretations of strategy: the corporation-
management, the institutional-administrative, and the futuristic. Of
course, there is crossover, cross-pollination, and cross-breeding, but the
types are distinct enough for identification. While this initial discussion
will not be the final word on the subject, the matter of definition is the
only place to start.

The best takeoff for this discussion is the feature article in Business
Week ( August 1996) in which both the history and the philosophy of
corporation strategy is summarized and, in fact, greeted as an idea that
had unexpectedly returned after a long, unexplained absence.

Early 1960s. Harvard professors Ken Andrews and C. Roland Christensen ar-
ticulate the concept of strategy as a tool to link together the functions of a busi-
ness and assess a company's strengths and weaknesses against competitors.

Early 1960s. General Electric ( GE) emerges as the pioneer in strategic planning,
creating a large, centralized staff of planners to ponder the future. Consultant
McKinsey & Co. helps GE view its products in terms of strategic business units,
identify competitors for each, and evaluates position against them.

1963. Under founder Bruce D. Henderson, Boston Consulting Group ( BCG)
becomes the first of many strategy boutiques. BCG pioneers a series of concepts
that take Corporate America by storm, including the "experience curve" and the
"growth and market-share matrix."

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