This document discusses what good strategy is and is not. It begins by introducing Sarma Vangala, a corporate consultant who specializes in strategy. The document then outlines what strategy is not, such as innovation, determination, or vision. It states that strategy involves analyzing a situation, identifying critical factors, designing and coordinating actions to address those factors, and mitigating risks. Examples are provided of strategy failures, such as an investment company's strategy and the strategy for regime change in Iraq. The document concludes by noting that good strategy requires diagnosis, guiding policy, coherent action, and assessment, and is difficult work that is often misunderstood.