Introduction Different people and organizations have a different perception and meaning of strategy. In most cases, strategy to these entities imply high level plans management devises that lead these organizations to their future business activities (Robert, 1998). On the other hand, strategy to others means detailed and specific actions that an individual or an organization takes to realize the desired outcome. Nonetheless, some people believe that strategy is synonymous to best practices. For this matter, to clearly understand what strategy is, it is important that key principles of strategy must be examined. However, despite different meaning ascribed to strategy, these key principles remain to be common elements in all sets of definitions provided by different scholars. To begin with, one of the key principle of strategy is trade-offs. Every strategy requires trade-offs to have an edge in the competition platform (Niven, 2008). An organization must be guided by what needs to be done in order to create value for its core business. Nonetheless, it must not strive to serve and satisfy everyone’s needs but the core needs of the organization should be the one to be prioritized and all efforts geared towards their attainment. Secondly, according to Niven (2008), activities chosen must fit and be compatible to one another for the success of the organization. This means that different activities to be undertaken in business plans must provide an integrated whole for the attainment of the desired goals of the organization or for the business entity. Thirdly, Ehnert (2009) provides continuity to be another key principle that constitutes strategy. In relation to this, it means that strategy should not be constantly reinvented so as to give the already adopted strategy some element of continuity. However, these strategies must evolve when dramatic changes occur in the operating environment, there must be some element of continuity which must be maintained through updating of the adopted strategy to avoid skepticism and confusion. Fourthly, Berman and Evans (2006) hold that strategy should comprise different activities of which their pursuit results are valuable and unique in positioning the entity in a better position in the operating environment. However, in the event where organizations pursue same activities, differentiation only results from cost and operational effectiveness that are employed by specific entity. Nonetheless, Ansoff (1990) believes that going beyond the ordinary and casting the net into the unknown and unproven may result to the breakthrough that is always desired in strategies. Therefore, in view of these strategic principles examined, Clegg and Hardy (1999) provide meaning of strategy to be broad priorities that are adopted by an organization in recognition of its operating environment which are geared towards attainment of its mission. Nonetheless, this is not the universally accepted meaning of strategy since different researchers and scholars in the field of management and related disciplines hold different view for the meaning of strategy. Therefore, the paper seeks to explore different school of thoughts that attempts to provide their view on the meaning of strategy to get fuller understanding of the different view points of strategy. There is no Universal Agreement on the Meaning of Strategy Strategy