This subject explores the nature and essence of strategy and how this is created in various organisational, industry and economic contexts. The complexity of the strategy process, content and context means that there is not one clear position on strategy. The impact of this complexity on managers seeking to develop a strategic thinking capability is examined. The paradoxes and debates in the field of strategy are explored in an effort to understand the concept of sustainable competitive advantage. Students will utilise the theoretical knowledge presented in a dialectical enquiry framework to undertake strategic analysis, and develop a selection of strategic options, for case study scenarios and in a team strategy simulation.