In our strategic intelligence practices, we see many misunderstandings about strategy. Firstly, many of us see strategy as ‘strategy concepts’ such as SWOT-analysis, Five Forces, Value-Chain Strategy, Scenario Planning, Customer Loyalty, Core Competencies, Blue Ocean Strategy and others, many of which have largely faded after enjoying a few years of attention and acclaim. Secondly, strategy concepts too often conflate goals with ideas: they try to maximize speed, increase quality, maximize net promotor score, or expand growth horizons.