The biggest problem with strategy…
The biggest problem with the way organizations think about strategy is that they confuse strategy with plans. They’re not the same.
Strategic planning is an oxymoron.
A strategy is a framework for making decisions. Without a strategy, a company will run in too many different directions, squandering resources. The framework establishes how the event delivers value. The strategy doesn’t answer all questions required for implementation – that’s planning.
More definitions of strategy…
- A plan of action designed to achieve a major goal over a period of time.
- Actions taken to achieve objectives while achieving a competitive advantage.
- A clearly defined, long-term vision to create value and motivate a workforce.
- A continuous process that requires constant effort.
- The art and science of allocating resources for a competitive advantage.
Source: Harvard Business Review