Why A Plan is Not a Strategy

Hey folks, let’s talk about a topic that confuses a lot of people in the business world. I’m talking about planning versus strategy. A lot of folks think these two terms are interchangeable, but that’s not the case. Today, we’re going to explore why planning is not a strategy and why having a solid strategy is crucial for success in the cutthroat world of business.

Photo by Glenn Carstens-Peters on Unsplash

The Problem with Strategic Planning

First, let’s talk about strategic planning. This involves making a list of activities that a company plans to do. Sure, that might sound like a good idea, but here’s the thing: it’s not the same as having a strategy.

Strategic planning is basically just a laundry list of things a company wants to do without any coherent theory of why or how it will achieve its goals. The problem with strategic planning is that it doesn’t consider the bigger picture or provide a roadmap for success. It’s like throwing spaghetti at a wall and hoping something sticks.

The Definition of Strategy

So, what is strategy then? Strategy is all about making choices that position a company to win in a particular market. A good strategy involves a coherent theory of why a company should be in that market and how it will be better than its competitors at serving customers in that market…