Strategy as "inferior" Choice

The article develops on the seminal work of Porter (1996) and in its five sections looks at the meaning of strategy as divorced from operational efficiency. It dwells of the extension of Lionel Robbins work (1932) on the concept of trade-offs and choice. Subsequent sections look at the managerial obsession with growth, strategy as positioning and how wrong choices emerge when the focus is on OE rather than the risks associated with strategy. The article also discusses the approach of strategy as Nash Equilibrium and the understanding of strategy as inferior choice.