Hambrick and Fredrickson’s five strategy elements

1. Arenas. Where will we be active?

2. Differentiators. How will we get there?

3. Vehicles. How will we win in the marketplace?

4. Staging. What will be our speed and sequence of moves?

5. Economic logic. How will we obtain our returns?

Source: Adapted from Donald C. Hambrick and James W. Fredrickson, “Are You Sure You Have a Strategy?,”Academy of Management Executive 19, no. 4 (2005): 51–62.

More to read at

1. http://turbo.kean.edu/~jmcgill/havestrategy.pdf

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