A strategic diamond is a collection of the five elements that make up a coherent business strategy. These five elements of the strategy include scenarios, differentiators, vehicles, staging, and economic logic. This model was developed by strategy researchers Donald Hambrick and James Fredrickson. It is also important not to confuse mission or vision with a strategy, although the former are essential for the development and execution of good strategies.
Most strategic plans focus on just one or two of these elements, creating gaps that could cause problems for the company in the future. These five aspects are related to the decisions that companies, businesses and teams must make when defining and refining strategies. This group of elements, which are fundamental to the strategic management process described in Figure 10.6.The diamond of strategy is the diamond of strategy: the constellation of elements of business, corporate and international strategy in terms of scenarios, differentiators, vehicles, staging and pace and economic logic. Most strategic plans focus on one or two of these elements, often leaving large gaps in the overall strategy.
The staging and the rhythm are the facet of the strategic diamond that refers to the timing and speed of strategic movements.