There are seven features that distinguish strategy from the other related managerial concepts:
1. Strategy is a process.
2. Strategy requires research activities.
3. Historical dynamics can lead to preferred areas and alternatives, but strategy is always about searching for new possibilities.
4. Strategy formulation is never done in perfectly rational conditions; thus, strategy formulation must be based on highly aggregated, incomplete, and uncertain information about the strategic choices.
5. The distinguishing characteristic is uncertainty.
6. Strategy is more about the journey rather than the destination itself.
7. Strategy is made up of a hierarchically coherent set of objectives.