Institutional league tables, such as the Academic Ranking of World Universities, have become part of the global higher education landscape. This article discusses findings from a longitudinal study examining four Australian universities over a fifteen year period which traces how international rankings have come to be articulated in university strategy. Through an analysis of annual reports and strategic plans, this inquiry highlights the impact of rankings on the institutions, with a particular focus on their research strategy. The selected universities demonstrate that they act strategically in how they seek to both influence and respond to annual ranking releases. The results show that specific changes in strategic direction not only improve a university's market position but can also contribute to a significant rise in their rank.