This review article presents a simplified framework for thinking about research strategy priorities for academic medical centers (AMCs). The framework can serve as a precursor to future advancements in translational medicine and as a set of planning guideposts toward ultimate translational excellence. While market pressures, reform uncertainties, institutional economics, and the move to a value-based environment have firmly pushed clinical strategy to the forefront of AMC planning, research strategic planning remains vitally important, especially for AMCs with significant research enterprises. A "research strategy DNA" framework can help leadership and faculty toward a shared understanding of their current position and help inform their future strategic priorities in light of rapidly changing environments. Six common strategic elements are outlined in the framework: (1) research faculty, (2) research infrastructure and space, (3) research organizations, (4) research focus areas, (5) research teams, and (6) research partnerships. AMC thinking along these elements is guided by two strands: (1) pursuit of excellence, and (2) strategic stewardship. Building on this framework, three areas of emerging strategic attention (yet underrepresented in current AMC research strategies) are introduced: research business models, translational organizational structures, and philanthropic agility.