[W]hat are the sources of competitive advantage in high-velocity markets? ... The secret ... is strategy as simple rules. ... [R]ecognize the need for a few strategic processes and a few simple rules to guide them through the chaos. (...) In strategy as simple rules ... advantage comes from succesfully seizing fleeting opportunities.

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Rather than picking a position or leveraging a competence, managers should select a few strategic processes. Rather than responding to a complicated world with elaborate stategies, they should craft a handful of simple rules. Rather than avoiding uncertainty, they should jump in.

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The simple rules provide the guidelines within which managers can pursue opportunities. Strategy, then consists of the unique set of strategically significan processes and the handful of simple rules that guide them.

Donald N. Sull & Kathleen M. Eisenhardt