As the field of strategy reaches its 25th anniversary, we examine how far the field has progressed during that time. Both management and strategy research have been characterized as being in an early stage of development. We draw on Kuhn's (1996) paradigm development model, which posits a connection between a field's stage of maturity and research processes and outcomes, to assess the maturity of the strategy field. We conduct two studies. The first is a cross-discipline comparison of productivity norms for university faculty. The second study examines longitudinal research outcomes for a sample of 945 strategy faculty. Our results indicate that strategy has the attributes of both an early stage and mature field: while overall research norms are low relative to other fields, they are driven far more by merit-based than non-merit factors. Copyright © 2005 John Wiley & Sons, Ltd.