This type of strategy setting comes from managers' responses to problems. It is good when it is hard to predict what is likely to happen in the market place or with technology. This almost always the case in the early days of a company. On the otherhand a deliberate strategy is good when a winning strategy has become clear.
See an example of one type of business strategy - a low cost
Ryanair Business Strategy.
A vitally important principle to the strategist is the
which lets the them identify the 20% of inputs, causes or effort that contributes to 80% of the outputs, consequences or results respectively.
You can 'achieve more with less' using this concept! It must be a vital part or consideration of your strategy. This is where a simple BI tool should help you greatly.
Strategies to Build Enduring Businesses
There other approaches to operating a business successfully. In the book "Built to Last: Successful Habits of Visionary Companies" by Jim Collins and Jerry I. Porras (1994). The book outlines the results of a six-year research project into what makes enduring great visionary companies.