The document discusses different definitions and perspectives of strategy. It outlines five different ways strategy can be viewed: as a plan, pattern, position, perspective, and ploy. A plan involves where an organization wants to go in the future, while a pattern looks at consistency in behavior over time. Position refers to creating an advantageous position, and perspective is an organization's fundamental way of doing things. A ploy involves strategic tricks to outwit competitors. The document argues that an effective strategy incorporates different definitions and balances planning with flexibility to adapt.