Be strategic about productivity—do less exceptionally well, instead of doing more in an average way.

Following the rules of your industry will only get you so far.

With a clever strategy, each action is self-reinforcing. Each action creates more options that are mutually beneficial. Each victory is not just for today but for tomorrow.

Someone once told me that, when your operations are not good, you should not talk strategy," says Iyer. "Fair enough. But the opposite is also true. If operations are good, then you must talk strategy.

A great strategy meeting is a meeting of minds.

A plan is not putting you in a box and forcing you to stay there. A plan is a guide to keep you on course, efficient, and safe.