1. Your Strategic Plans Probably Aren’t Strategic, or Even Plans

    Your Strategic Plans Probably Aren’t Strategic, or Even Plans

    You’ve seen the practice. A group of managers get together at a resort for two days to hammer out a “strategic plan.” Done and dusted, they all head home. But have they produced a plan with a strategy? Often, the answer is “no.” The most basic mix-up is between “objective,” “strategy,” and “action.” The essence of strategic planning is in positioning — in other words, describing how your firm will out-compete specific rivals.

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