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Reversing course once a strategy tax is established can be even more costly. In 1988, George H. W. Bush delivered this famous line at the Republican Party's national convention: "Read my lips: no new taxes." Later, this commitment caused significant problems for him when he faced a recession as president. Ultimately, Bush decided he had to break his pledge and raise taxes, and it cost him reelection. The lesson here is that you should, as much as possible, avoid locking yourself into rigid long-term strategies, as circumstances can rapidly change.

STRATEGY IS ABOUT MAKING CHOICES, TRADE-OFFS. IT'S ABOUT DELIBERATELY CHOOSING TO BE DIFFERENT. --Michael Porter

higher roles tend to involve more strategy than tactics. Generally, strategy is the big picture; tactics are the details. Strategy is the long term, defining what ultimate success looks like. Tactics are short term, defining what we're going to do next to get there.