This book introduces a different approach to thinking about and engaging with strategy in the practice field. The insight-driven, first principles-based approach to strategising and strategic problem-solving developed in this book provides a conceptually rigorous yet pragmatic approach to strategising, and as such the book addresses deficiencies of the current theory-practice gap in the strategy field. In particular, the author introduces and develops a conceptually rigorous approach to the crucial transition stage from strategic analysis to strategic option formation in the strategy process. The book introduces several new concepts such as the firm's unique competing space and its strategic boundaries, the strategic thinking algorithm, and shows how these, when integrated with existing approaches and first-principles thinking, significantly enhance the coherence and effectiveness of strategic problem-solving in practice. Additionally, the book includes supplementary enhancing features throughout the chapters in the form of Praxis Reflections, Praxis Perspectives, and Praxis Cases that tie the concepts and methods presented to real-world strategy practice. This book will appeal not only to strategy practitioners, but also academic researchers and graduate-level students of strategic management.