Professor Richard Rummelt wrote a book titled Good Strategy Bad Strategy a few years ago. The insightful video below is the professor talking about what good strategy is and what bad strategy is.
Good strategy is focus, an insight and specific actions to take. An example given is when Steve Jobs decided to do away with all computer product lines except for one computer when he returned to Apple in the 90’s. He was not going to do it all, he didn’t make fluffy aspirations goals about driving growth, but decided on a certain actions to take.
Bad strategy is fluff, a list of goals and aspirations. An example given are company leaders that parade a list of aspirational goals like, “Next year we will have grown the company by 20%” but there is no insight or action for how this will be achieved.