For years now, it has been unfashionable to talk about strategies. However, for those companies that were gaining market share, creating new markets, integrating businesses forward or backward, or otherwise gaining competitive advantage, strategy is an integral part of the way they do business. But, "the strategic plan" as it was known 20 years ago is gone and probably won't come back. Strategic planning works in stable or predictably changing times. Strategy is less about planning and more about perception, synthesis, and action. Strategy is about acting in a way that anticipates the future while meeting today's needs. Strategy helps deal with complex or chaotic markets. Companies have been driven by the demands of stakeholders for short-term rewards, by the limited capacity for development that has resulted in mergers and acquisitions, and by a focus on their present capability, resulting in the cutbacks, downsizing and other shortterm remedies. Now is the time to re-focus on strategy.