A Plan Is Not a Strategy
ฝัง
- เผยแพร่เมื่อ 25 เม.ย. 2024
- A comprehensive plan-with goals, initiatives, and budgets-is comforting. But starting with a plan is a terrible way to make strategy. Roger Martin, former dean of the Rotman School of Management at the University of Toronto and one of the world’s leading thinkers on strategy, says developing strategy means going outside an organization’s comfort zone and escaping the common traps of strategic planning.
00:00 Most strategic planning has nothing to do with strategy.
01:00 So what is a strategy?
02:08 Why do leaders so often focus on planning?
04:05 Let's see a real-world example of strategy beating planning.
06:33 How do I avoid the "planning trap"?
For more from Roger Martin on this topic, read, "A New Way to Think: Your Guide to Superior Management Effectiveness": www.amazon.com/New-Way-Think-...
Follow Harvard Business Review:
hbr.org/
/ harvard-business-review
/ hbr
/ harvardbiz
/ harvard_business_review
Sign up for Newsletters: hbr.org/email-newsletters
#HarvardBusinessReview #Strategy #RogerMartin
Copyright © 2022 Harvard Business School Publishing. All rights reserved.
#StrategicPlanning #Planning #Business #Explainer #Success #HowTo
in summary, strategy involves external elements and uncertainty whereas planning does not. And strategy focuses on preparing to win whereas planning focuses on completing a checklist of work.
Good
Thank you.
You left out a lot 😂
The simple distinction is that is plans end in competition while strategy ends in victory. For example, if I plan to build a house, this will involve external elements and uncertainty, but its still only a plan. Victory only occurs once you have defeated someone or thing. Simple test, you claim you have won but can you point out who you have defeated.
But you need the strategic planning to execute and to implement to win. So they cannot be separated. Even though the external Environment will be constant changing and this will make your Plan obsolete as soon AS you start with the planning, but somehow WE have to start. Otherwise, you can Just sit there and so nothing. It should be only adopted to the change. Meaning plan faster and more often. And be prepared that the only Thing dies Not Change IS the change itself.
One of the hallmarks of a great teacher is to communicate and disseminate seemingly complex ideas in a simple manner. Professor Martin accomplishes this brilliantly in this video.
This Canadian Professor appears to be well grounded both in language and business. The tack or approach he has taken to expand on the term 'strategic planning ' or how he is staking out the difference between him and others on the understanding of the relationship of two words 'plan' and 'strategy' in business terms does not sound right. Now let me say why I beg to differ with him. First off, since for different contexts more often than not the use of 'plan' and 'strategy' together is widely understood in business terms, as they are meant to lay more emphasis on the word 'strategy', world business community is absolutely fine with it. Plan, or plans, planning or action plan here may refer to a number of or group of or set of tasks or activities drawn up for a project. 'Strategy' here may refer to the elaborate mechanics of accomplishing that group of tasks to reach its objectives and goals set ahead as part of the plans. To give you an example, say you have a parcel of land. Now, you have made a plan to grow wheat on it, you expect to get 200 tons of wheat given the size of your land. Next up, you develop a 'strategy' - meaning how you want to achieve your objectives and goals. So, since these two words 'plan' and 'strategy' hang well together and they have so close relationship between them in business terms, the 'strategic planning' or 'strategic plans' makes perfect sense, because they embody a well-organized work-plan or set of tasks with well-thought out of mechanics of accomplishing those activities for success.
Given the fact that he is living within a much smaller population, his knowledge is limited in scope. Apparently, he is in no position to extrapolate his idea to us. The bottom line is that this Canadian professor is absolutely in the wrong about the term 'Strategic Planning'.
Jahid, a Bangladeshi-Canadian, also, a Business Marketing Graduate. Thank you.
@@c2bb2c59 Thanks for your perspective.
@@ashc001 You're very welcome.
He dis
@@c2bb2c59 Agree. Seems like a word salad, listened three times....I still hear absolutely no difference in his convoluted attempts at differentiating degrees of meanings between the two words. Verbal contortionist trying to create relevancy.
Takeaways:
1. Strategy and planning are not the same thing. Strategy involves making integrative choices that position you on a playing field of your choice in a way that you win.
2. A great strategy must have a coherent theory, be doable, and be translatable into actions.
3. Planning does not require coherence, but it is comfortable because it involves the resources you can control.
4. Strategy requires putting yourself out and specifying an outcome that involves customers wanting your product or service enough that they will buy enough of it to make the profitability that you'd like to make.
5. You do not control the customers, which makes strategy a trickier task.
How:
1. Start by identifying the playing field you want to be on. Determine where you can win.
2. Develop a theory as to why this playing field is the right one for you to be on.
3. Determine how you will win on this playing field. What can you do to serve the customers on this playing field better than anyone else?
4. Translate your theory and choices into concrete actions.
Imagine:
Think of strategy as a map. The map has to show you where you are and where you want to go. It should also show you the terrain and the obstacles you may encounter along the way. Without a map, you'll be lost, and without a strategy, you'll be directionless.
Why:
1. Strategy involves making integrative choices that position you on a playing field of your choice in a way that you win.
2. A great strategy must have a coherent theory, be doable, and be translatable into actions.
3. Planning is comfortable because it involves the resources you can control.
4. Strategy requires putting yourself out and specifying an outcome that involves customers wanting your product or service enough that they will buy enough of it to make the profitability that you'd like to make.
5. You do not control the customers, which makes strategy a trickier task.
Perspective:
1. Instead of focusing on the activities you want to engage in, focus on the outcomes you want to achieve.
2. Instead of listing a set of activities that sound good, identify a set of choices that will make you win on the playing field you choose.
3. Instead of trying to control the customers, focus on serving them better than anyone else.
What:
1. Focus on a specific market segment and differentiate from competitors.
2. Keep the business model simple and streamlined.
3. Use a clear and concise strategy that is easy to communicate and understand.
4. Accept uncertainty and take calculated risks.
5. Continuously monitor and adjust the strategy based on the changing environment.
How:
1. Fly point-to-point instead of hub-and-spoke.
2. Use only one type of aircraft to simplify operations.
3. Avoid offering meals on short flights to reduce costs.
4. Encourage customers to book online to save money.
5. Avoid booking through travel agents to reduce costs.
imagine:
Southwest Airlines chose to navigate through a less crowded and less risky path in the airline industry. They chose to fly point-to-point instead of the hub-and-spoke model used by major carriers, which is comparable to taking a direct flight instead of making multiple stops. They also focused on using only one type of aircraft, which is like having a specialized tool for a specific task. By keeping their business model simple and streamlined, they were able to reduce costs and offer lower prices to customers.
Case:
To apply these principles and tactics to your own situation, you need to first identify your target market and differentiate yourself from your competitors.
Simplify your business model and focus on one or two key strengths that set you apart.
Use a clear and concise strategy that is easy to communicate and understand.
Take calculated risks and accept uncertainty, and continuously monitor and adjust your strategy based on the changing environment.
Why:
1. Flying point-to-point reduces aircraft waiting time and increases efficiency.
2. Using only one type of aircraft simplifies operations and reduces maintenance costs.
3. Avoiding offering meals on short flights reduces costs and increases efficiency.
4. Encouraging customers to book online reduces costs and increases convenience.
5. Avoiding booking through travel agents reduces costs and allows for direct communication with customers.
Perspective:
1. Southwest's success is a result of taking a different approach to the airline industry and offering a unique value proposition to customers.
2. Southwest's business model is an example of the importance of simplicity and efficiency in achieving success.
3. Southwest's success can be attributed to their ability to continuously monitor and adjust their strategy based on the changing environment.
What:
1. Flexibility: A good strategy is flexible and adaptable to changes in the environment or circumstances.
2. Clarity: A clear understanding of the end goal and how to achieve it is crucial for a successful strategy.
3. Focus: A strategy must prioritize and focus on the most important objectives to avoid spreading resources too thin.
4. Agility: The ability to act quickly and make decisions under pressure is necessary for a successful strategy.
5. Resourcefulness: A good strategy utilizes available resources effectively and efficiently.
6. Innovation: Innovative thinking is necessary to create a unique and effective strategy.
7. Risk management: Risk assessment and mitigation strategies should be incorporated into the overall strategy.
How:
1. SWOT analysis: Evaluate strengths, weaknesses, opportunities, and threats to create a strategic plan.
2. Competitive analysis: Identify competitors, their strengths and weaknesses, and how to differentiate from them.
3. Market segmentation: Divide the market into groups and create targeted strategies for each segment.
4. Branding: Develop a strong brand identity that aligns with the overall strategy.
5. Differentiation: Identify unique selling points to differentiate from competitors.
6. Marketing mix: Use the 4 Ps (product, price, promotion, and place) to develop a comprehensive marketing strategy.
7. Continuous improvement: Regularly evaluate and adjust the strategy to ensure it remains effective.
Imagine:
Think of strategy as a roadmap to your destination. Without a roadmap, you may get lost or take longer to reach your destination. However, if you stick too strictly to the roadmap, you may miss out on more efficient or scenic routes. The key is to have a flexible plan that allows for detours and adjustments as needed, while still keeping the end goal in sight.
How:
1. Identify your goals and objectives
2. Evaluate your strengths, weaknesses, opportunities, and threats
3. Identify your target audience and segment the market
4. Develop a unique value proposition and differentiation strategy
5. Create a comprehensive marketing strategy utilizing the 4 Ps
6. Continuously evaluate and adjust the strategy as needed
Why:
1. Flexibility allows for adaptability to changes in the environment or circumstances.
2. Clarity ensures a clear understanding of the end goal and how to achieve it.
3. Focus prioritizes and maximizes the use of resources.
4. Agility allows for quick decision-making and action under pressure.
5. Resourcefulness ensures effective and efficient use of available resources.
6. Innovation encourages unique and effective strategies.
7. Risk management assesses and mitigates potential risks for a successful strategy.
Perspective:
1. The importance of understanding your target audience and creating a targeted marketing strategy.
2. The role of innovation in creating a successful strategy.
3. How to balance flexibility and focus in a strategic plan.
4. The impact of risk management on overall strategy success.
5. The benefits of continuously evaluating and adjusting the strategy.
What:
1. Focus on the bigger picture: Strategy is about identifying and prioritizing the long-term goals and objectives of an organization or individual, and then developing a plan to achieve them.
2. Agility and adaptability: Strategy must be flexible and adaptable to changing circumstances, as it is impossible to predict the future with absolute certainty.
3. Competitive advantage: Strategy must take into account the strengths and weaknesses of the organization or individual, as well as the strengths and weaknesses of the competition, to create a sustainable competitive advantage.
4. Resource optimization: Strategy must make the best use of available resources to achieve the desired outcomes.
How:
1. Identify the key challenges and opportunities facing the organization or individual.
2. Analyze the strengths and weaknesses of the organization or individual.
3. Identify the competition and their strengths and weaknesses.
4. Develop a plan to leverage the organization or individual's strengths and exploit the weaknesses of the competition.
5. Continuously monitor and adjust the plan as circumstances change.
Imagine:
Think of strategy as a journey. You need to know your destination, the route you will take to get there, the obstacles you will face along the way, and the resources you will need to overcome those obstacles.
How:
1. Identify your long-term goals and objectives.
2. Analyze your strengths and weaknesses.
3. Identify potential obstacles and opportunities.
4. Develop a plan that leverages your strengths and overcomes your weaknesses, while taking advantage of opportunities and minimizing risks.
5. Continuously monitor and adjust your plan as circumstances change.
Why:
1. Planning alone does not guarantee success, as plans can become outdated or irrelevant.
2. Strategy focuses on the bigger picture and provides flexibility and adaptability.
3. Strategy takes into account the strengths and weaknesses of the organization or individual and the competition, creating a sustainable competitive advantage.
4. Strategy makes the best use of available resources, optimizing the chances of success.
Perspective:
1. Personal: Strategy can be applied to an individual's personal goals and objectives, such as career advancement, financial stability, or personal development.
2. Business: Strategy is a crucial component of business success, helping organizations achieve their goals and stay ahead of the competition.
3. Military: Strategy has been used in military operations for centuries, helping commanders to win battles and wars.
4. Sports: Strategy is often employed in sports, with coaches developing game plans to defeat the opposing team.
Keep on
Wow. These are good. Thanks mate.
Thank you very much
A guy like you should be on every comment section of every valuable video on TH-cam
Appreciate this big time.
Clear and concise. For some reason, we've been taught to develop a "planning mindset" rather than a strategic one. This short lecture has just unlocked a new worldview for me; a new way of building my ventures.
What I have learned from this :
Planning - ' what I need to do'
Strategy - ' What are my desired outcomes and how to get there?'
So strategy has a component of goal and process ( how to get there), meaning having a stategy means you are exercising 'system thinking.'
I see you're a man of xulture #system thinking
You forgot the "why"
thanks, i wasn't about to watch this but i wanted to know the tldr
@@maj373 Tell me Why
@@iche9373 you need to state why you are doing anything and then define what you should change and then how you will change it to get the results from why.
I worked as strategist for more than 10 years, most of which in leading positions, and attended Oxford & Harvard programs on strategy, I read one of the best books in strategy "Good Strategy/Bad Strategy", but this brilliant 9 minutes video taught me many lessons in a very simple way. Thank you Prof. Roger Martin.
This reveals how money dominates our teaching and our thinking. It explains why we are incapable of developing a strategy to avoid climate breakdown and ecosystems collapse. At no point does Professor Martin indicate any awareness that humanity are exceeding the carrying capacity of Earth, and that salvaging this dire situation needs to take priority over making money. This little animation will help anyone who wishes to understand how we might develop a strategy to dig ourselves out of this dangerous direction. th-cam.com/video/yyEEJGoaLd4/w-d-xo.html
If you don't mind me asking, I am fascinated with strategy but how does one work up to a position where you can start implementing strategy at work? I am 26 and in sales.
@@XxKINGatLIFExX Your organisation probably already has a strategy. Understand it comprehensively, and then apply the tactics in align with the set strategy in your particular field.
For example, if the strategy is to serve a low-income target market with low premium insurance packages, then emphasize the benefits that align with the values of that target potential customer, the attributes of your product can guide you, because they're created to solve that particular customer's problems (needs - the gap between the current state, and the ideal state of the customer).
@@G4ourG My business doesn't have a strategy it's just reactive, how do you decide upon a strategy?
@@G4ourG
What is the difference between a strategy and market segmentation?
I feel like marketing concepts are enough and strategy is an another fancy word that is not coherent nor practical.
"Strategy" is a tool to respond the challenges of VUCA (volatility, uncertainty, complexity, and ambiguity) environment. "Planning" is to improve on best practices. Ultimately, both are essential. Excellent video!
Most managers don’t know the differences between strategy, tactics, operations, logistics and diplomacy. Of course you plan for each; you do so in a way that is integrated with the other elements, often changing along the way depending on the situation and new intel.
I usually start the list with objectives. All are interrelated and you will likely have to correct your way to the end, as reality presents itself. Diplomacy is a nice addition as most situations involve other people.
@@camgere Yes, and defining objectives is part of strategy. Before defining objectives, one has to answer the existential question: why do this thing in the first place? What is the whole point of having and running this business, govt agency, community, army, school, family, etc.?
1ĺl8 i 4
Most officials in Washington don’t know the difference either. We just do things - like supporting Ukraine or Taiwan rather than building the relationship with Russia and China - without explaining how that serves our strategic interests.
@@ThomasToPC
The answer for all whys is human needs and wants.
I could listen to this guy speaks for hours about business
i fought my ADD hard to sit through this video - worth it
If you are in a mad hurry, pick up at 8:27 and hit the mind blowing summary with a drop-the-mike ending! Plan for the win. Don't plan to be busy. These are worlds apart, and this video is a very thoughtful dive into the difference.
Thank you so much!
Appreciate your comment
this guy is a genius....and then ppl wanna complain they cant do anything when this is literally free...this lesson alone can help your business get to 100k/year...
🙌🙏
Sure
Only 100k profit? man, and i thought my 170k engineering job was demeaning for earning so little.
I'm a Strategic Planning Director of one of the leading advertising agencies worldwide for many years. But this short, sharp, crystal clear definition helped me a lot, even after more than 24 years global expertise in the industry. THANKS Roger Martin for sharing this masterclass.
Based on the video, isn't "strategic planning" an oxymoron?
This is pure gold, thank you. I have been trying to articulate for months why I think our strategy is not in fact a strategy but have never been able to put my finger on it. Now I can - we have a plan, not a theory.
I’m not sure why this video was recommended to me, but it resonates with my work. I’m an instructional designer who used to be a curriculum designer, and I always explained the difference as curriculum design (CD) being the “what” and instructional design (ID) being the “how”. What I will say now is that CD is the plan and ID is the strategy. Thank you!
I think that is the opposite of what the video says.
This is better than attending a Harvard MBA class. Brilliant lesson! Thank you Prof. Roger Martin!
It’s actually not brilliant. A plan is a strategy. They are the same definition. It the intention to achieve an aim. Learn.
In other HBR Video, it says strategy is a plan to create values. That said, I think they are saying the same thing; just planning won’t get things done but to plan with intentions to achieve specific goals will.
@@colder8741 Planning is a process. A to-do list. Strategy is a series of insights and actions to accomplish a goal. Strategy is more specific for a certain goal.
Actually I want to attend after watching. Okay.
What he described is one company having a better or a more successful strategy than the others, rather than the difference between strategy and planning.
I've never heard a simpler and illuminating explanation of the difference between strategy and planning, thanks a lot for sharing!
Being an academician, this video precisely describes the difference between Planning and Strategy. A great resource for me to share in class. Than you Prof. Martin.🙏
I know this is supposed t be about winning and losing in the corporate world, but it rings very true for personal goals and life in general. Further, it seems remarkably sane, without all of the flailing busywork and failed promise often associated with "planning". I am retired and have been wrestling with goals and dreams for the rest of my life. This video makes so much sense, keeps things simple and is reminiscent of Occam's Razor: the simplest, clearest answer is often the correct one. Unlike most of YT and the Net, this was very useful. Thank you.
'flailing busywork'.. what a wonderful description! Around me everywhere here in Japan!
Wow! Strategy focuses on desired outcome, acknowledging the angst that while the outcome is out of our control if we lay out our logic and are willing to tweak it we increase our chances at winning
In many ways, this is similar to the difference between Waterfall and Agile style of project management. Planning for comfort or Strategising for wining. Very Insightful.
This is absolutely gold. Every organisation I have ever worked for/with needs this priceless 10 mins.
100%. I seem to have spent most of my years in senior management - commercial and non-profit - fighting against the fudge of "strategic planning", which results in neither strategy nor planning being done well, let alone in harmony. In particular, for non profits, attention to strategy shines an essential light on the organisation and its purpose.
I suggest that many non-profits tend to systematise themselves from the bottom up - as they develop from the first simple, informal "let's do something about this" initiative into a more structured, long-term organisation. Each layer of organisational thinking - planning (including OD), strategy, mission and up to vision - tends to be considered and added only if and when the status quo becomes blatantly unmanageable or problematic, or if it is demanded by a board or funder. As a result, these are seen not as fundamental building blocks for an effective organisation, providing essential focus and clarity internally and externally, but as unwelcome, time-consuming chores, diverting energy from the organisation's real business. And inevitably, working from bottom upwards throws up many instances where the sum of the parts does not add up to a coherent whole, yet there is no higher logic by which to order the parts better or broker objectively between competing local interests.
Making the time to stand back, and to consider and develop these layers of organisational thinking from top down - ie the other way, strategically - is possibly one of the most valuable things a non-profit can do to ensure its sustainability. It enables organisations to be as clear about what they don't do as about what they do (so helping avoid mission creep). It crystallises the "hymn sheet", giving the whole team a common understanding and language, and the brand the power of consistency. Each layer, if done properly, provides a powerful overarching logic for decision-making at the layer below it, making the whole process faster, simpler and better.
A guard at the gate to my home gave me this lesson when I was young. Life-changing insight.
maybe the fact that you had house and a gate with a guard was more life-changing .... However Congrats for both.
I can’t believe this invaluable
lesson is accessible to many at virtually no cost. Roger is an excellent speaker. Incredible work😌🙏
Thank you sir! A lot of people are so set in their ways that they will not change their attitude to strategy. They are so well versed in the practice of this their "strategic planning" and also well rewarded for their expertise in it by their organization that it would be business as usual. That leaves plenty of opportunity for disruptors. More for me!
Don't know how this video popped up in my suggestions but it definitely gives me clarity in the most simplest way for me to be successful in all I do. Thank you!
This is a fantastic presentation by all standards. Thanks to the internet for the things we learn from professionals from several miles away.
Αααα
Wow. Not gonna lie, when the video started I was like "this isn't what I'm looking for, I need to know how to write a strategy" but this video is a nice nugget that helps put all the other videos I watched into perspective.
I have never heard this sharp an articulation of strategy as this. The way Prof Martin has explained this is incredibly clear and helps understand the difference between playing and winning.
you get more in depth and significantly better freshman year in ROTC
MBA's should never ever be in positions of authority because they know the technical of operations but don't know the first thing about how to build cohesive teams or maintain a positive work environment... which is why corporate America has massive turnover and no one wants to work for major corporations except trust fund kids who's parents connections are what get them the jobs after school.
Winning Mantra in a nutshell. My takeaway is @9.6 to @9.26 . Never found such a super simplified version of Strategy. Thank you Prof. Roger Martin!
As a startup, this was incredibly helpful! Thank you for guiding us to look further than the checkboxes.
I’m not even into businesses and entrepreneurship or any related field but I learnt so much from this. Tragic we don’t learn something like this in school.
you would learn (not "Learnt") these things if you attended college, K-12 is only there to hopefully teach you basic learning skills, NOT particluar ideas, concepts, or prepare you for real life. K-12 should be teaching you how to learn NOT what to learn
@@slowery43 I totally see your view bro. Well said.
@@slowery43You're absolutely wrong for one reason - K-12 isn't designed to do what you just said. Ideally it would but it wastes so much time that it could teach both.
Also, it's an elitist view that everyone needs college. The root of the word school means leisure.
You just freed my mind to explain a strategy I’ve developed but have been unable to articulate succinctly! Thank you for making this video!
Thank you! Straight, short, clear and encouraging explanation.
Wow - this is one of the best lectures I've heard in a long time. I had never thought of strategy v. planning. I learned a lot. Thank you!
I am an incessant maker of to-do lists, so naturally, the title of this video piqued my curiosity. This is wonderfully informative. What excites about it, is that I can see it being hugely useful not only for a business, but also for an individual attempting to realise personal goals.
I recommend vincent hovorka he helped me achieve my goals. Very smart
MAN! The idea that angst, doubt, reliance on the unknowable and the always present chance of failure are unavoidable components of a successful strategy is probably the most understated piece of advice I've ever heard.
The amount of anxiety and confusion caused by trying to turn your strategy into a fool proof plan has morphed for so many into hopelessness and stagnation. And belief in that false concept has given nay-sayers the fuel they needed to stomp out many a dream.
This is an exceptional video right before a huge meeting I have tomorrow to talk about our action plan to create a Go To Market STRATEGY... not a PLAN. Thank you so much for this.
I've been working on EPM (Enterprise Performance Management) for a few years now, and I find this disconnect between strategy and planning quite often. Fantastically well summarised in this video. Loved it.
That’s the best video about strategy I’ve seen in years.
👌"Strategy gives the best possible chance of winning", what a closing statement. Thank you Prof. Roger Martin.
I prefer a plan of action. Execute. A strategy, like a static business plan, is obsolete by morning.
@@miguelhidalgo9372 You must have watched something else. His explanation of strategy is the literal antithesis of a static business plan🤦
Incredibly well said and I love how you point out that it should feel uncomfortable. Even working for an internal department where our only customer is the business, strategy is still about how we organize as a group of people to deliver value. Planning is figuring out how we're actually going to execute those things. Too often the strategy step is skipped completely.
The military makes this much simpler. Strategy vs tactics. Both are important. Strategy is long-term and tactics are short-term and more situational.
Thank you for this video. As someone who is a natural planner and comfortable with that I was always shocked by the outcome because not everything went to plan. I realized now that affected me in the workplace because I was just focused on the job on not the bigger picture. This helped put things into a different perspective as I look for employment. Thank you so much.
Good luck job hunting! I'm writing a resume for the first time in 11 years. My goal is to start a new career and this video has inspired me as well! Now, I'm going to write a new and improved cover letter to win the job I want. You will too🙃
@@paolabauer1928 Thank you. Wishing you success in your new career path.
This has been coming up into my feeds for several days and I thank God that I finally watched it. This is quite interesting and may serve as a reflective reference point after I adjust my strategy. This is good stuff! This bless.
Important ideas communicated with incredible clarity
Excellent lecture of Professor Martin! Simple, clear and objective.
Love this. It has saved my career. I was now feeling like "no"one can hear me. Cause I have been of the mindset, that one needs to give themselves and their business the best shot possible and that is scary since it is extremely speculative, yet it is more of something to trust and believe in......as this video suggests, that is strategy.....My confidence is back..
Love it. Congrats and success to you!!!
That man just explain something I wasn't able to understand in 5 minutos! I can't belive it!!!! Thanks you for "landing" this two concepts 😮❤
The simplicity of the video title drew me in and I went away with a clear understanding of the two. Thank you.
Mr Martin is right to separate the "why" from the "how". Too often there is insufficient thought and explanation of the "why". However he needs to recognise the "why" won't be achieved without the plans being put into place and delivered. I would suggest that rather than creating a disconnect between strategy and plans it would be better to explain how plans should be better linked into, and supportive of a well thought and articulated strategy. In short plans needs outcomes not just objectives and the control process should be monitoring for the delivery of the outcomes - providing action management to ensure the plans support the strategy. In my experience it is the implementation of strategy where failure occurs rather than the strategy itself.
Yet, wrong. Strategy without a plan is a wish list. Plans without strategy are "to do" lists. Hence---"strategic planning". Which forces you to identify WHERE resources will come from, WHEN they are needed in a strategy, and WHO will provide them, etc. If all you know is HOW and WHY, you will blow up like all of the companies run by MBAs and Biz school wiz kids. Consider this: every major economic blunder of the 20th and 21st centuries was the creation of a "prestigious" biz school. From the Recession in 1903 to the 2008 recession and including the so called Great Depression, the same group of geniuses both caused them and extended them.
There is a discipline called strategic planning and it ties together all of the lines necessary; WHAT, WHERE, WHEN, WHO, HOW, and WHY. Of course, what would a professor know about it? No risk in the safe spaces of the modern "academic" setting, eh?
@@CB-vt3mx I take your point ( and agree ) but a bit harsh
This Canadian Professor appears to be well grounded both in language and business. The tack or approach he has taken to expand on the term 'strategic planning ' or how he is staking out the difference between him and others on the understanding of the relationship of two words 'plan' and 'strategy' in business terms does not sound right. Now let me say why I beg to differ with him. First off, since for different contexts more often than not the use of 'plan' and 'strategy' together is widely understood in business terms, as they are meant to lay more emphasis on the word 'strategy', world business community is absolutely fine with it. Plan, or plans, planning or action plan here may refer to a number of or group of or set of tasks or activities drawn up for a project. 'Strategy' here may refer to the elaborate mechanics of accomplishing that group of tasks to reach its objectives and goals set ahead as part of the plans. To give you an example, say you have a parcel of land. Now, you have made a plan to grow wheat on it, you expect to get 200 tons of wheat given the size of your land. Next up, you develop a 'strategy' - meaning how you want to achieve your objectives and goals. So, since these two words 'plan' and 'strategy' hang well together and they have so close relationship between them in business terms, the 'strategic planning' or 'strategic plans' makes perfect sense, because they embody a well-organized work-plan or set of tasks with well-thought out of mechanics of accomplishing those activities for success.
Given the fact that he is living within a much smaller population, his knowledge is limited in scope. Apparently, he is in no position to extrapolate his idea to us. The bottom line is that this Canadian professor is absolutely in the wrong about the term 'Strategic Planning'.
Jahid, a Bangladeshi-Canadian, also, a Business Marketing Graduate. Thank you.
Watching Roger Martin's video on strategy is like having a private session with a world-class strategist. His insights are so clear and practical, yet profound.
I love how he broke this down to small-sized bits and also his relaxed tone, I didn't know when I watched it 3 times over. Love it!
I really like his relaxed tone as well.
@@NaphtaliHoff I know right
This Canadian Professor appears to be well grounded both in language and business. The tack or approach he has taken to expand on the term 'strategic planning ' or how he is staking out the difference between him and others on the understanding of the relationship of two words 'plan' and 'strategy' in business terms does not sound right. Now let me say why I beg to differ with him. First off, since for different contexts more often than not the use of 'plan' and 'strategy' together is widely understood in business terms, as they are meant to lay more emphasis on the word 'strategy', world business community is absolutely fine with it. Plan, or plans, planning or action plan here may refer to a number of or group of or set of tasks or activities drawn up for a project. 'Strategy' here may refer to the elaborate mechanics of accomplishing that group of tasks to reach its objectives and goals set ahead as part of the plans. To give you an example, say you have a parcel of land. Now, you have made a plan to grow wheat on it, you expect to get 200 tons of wheat given the size of your land. Next up, you develop a 'strategy' - meaning how you want to achieve your objectives and goals. So, since these two words 'plan' and 'strategy' hang well together and they have so close relationship between them in business terms, the 'strategic planning' or 'strategic plans' makes perfect sense, because they embody a well-organized work-plan or set of tasks with well-thought out of mechanics of accomplishing those activities for success.
Given the fact that he is living within a much smaller population, his knowledge is limited in scope. Apparently, he is in no position to extrapolate his idea to us. The bottom line is that this Canadian professor is absolutely in the wrong about the term 'Strategic Planning'.
Jahid, a Bangladeshi-Canadian, also, a Business Marketing Graduate. Thank you.
Best ending for an academic video with inspiration
This is my favourite HBR video. I finally understand the difference between strategy and planning. Excellent explanation with practical steps, thank you! 🙏🏾
@@FluidLifeWays how is it flawed?
@@FluidLifeWays Someone will end up saying the same about your talk 😄
@@FluidLifeWays why not just spit it out right here buddy..?
@fluid content you have a point and the resource person also provides a very substantive knowledge in this field. Maybe referring to it as Strategy Management is more appropriate, which HBR already discussed years ago.
When I was in college in the 90's, strategic management and planning was my favorite course and the one class I got the most out of in college. It explained these concepts in this video. What was so troubling that 10 years later, I would listen to all these supervisors, managers, directors, execs, and other higher ups literally talk planning as it was suppose to be their strategy. Even now, I cringe when I hear a Director or other higher up discuss their plans as if they strategies.
My most frustrating higher up I had was someone that insisted that we, as employees, had to memorize our departments principles as part of some kind of strategic plan. To say the least, I kept my head down and basically hid from the guy his entire tenure because I wasn't doing it and it was a pure waste of my time.
Ah yes, telling people what to think rather than teaching them how to think.
Let me guess, you are in Canada and are referring to those members with positions of authority who were with Canadian companies. I happened to work in Canada for some Canadian corporate companies and in America for a few American corporate companies, mostly in the retail line, and I found every one of them - supervisors and managers with Canadian companies so out of touch with ethical values, skills in management, knowledge in human-relation, business operations, and strategic planning; above all, they all have had very little or no regards to social audit, labor code, employee-rights and to other stakeholder's interests.
We'll it makes sense to me. Managers typically are powerless. They manage the system. The system controls the strategy. So, the only power they have is to plan.
Well said!
*their
1:12
Did somebody notice he used "integrative set of choices (connecting choices in the future )" instead of "integrated set of choices (connected choices in the present)".
1:35 coherent means integrative.
1:40 planning does not have to have such coherence.
1:54 there tends to be a list that has no internal coherence to it.
2:00 and no specification of a way that is going to accomplish collectively some goal for the company.
2:13 plans typically have to do with the resources you are to spend.
2:25 those are all things that are the cost side of the business.
2:46 a strategy specifies competitive outcome (instead of competitive advantage) which involves customers wanting your product or service.
3:08 tricky thing about that is that you don't control them.
I saw someone saying this was their favourite HBR video. For me it's not just HBR, it inspired me so much, this is my favourite video EVER. Watched it 3x already to engrave it into myself and will probably do it a few more times :) Thank you for this amazing content
My takeaway : Strategy gives you skin in the game, it is long-term and sets you on a path for iterative plans over a duration of time. Planning is post-natal care that leads to Implementation of strategy.
Are you saying there can't be planning without strategy?
but youre making a mistake: you are inherently saying plan is execution and strategy isn't, which is wrong. Plans live within the strategy but they are more focused on enabling capabilities and management systems to be realised.
The front end of the strategy is primarily based around imagination and hypothesis.
Explained in such a simple manner that leaves no ambiguity in our minds. Thank you!
explained in 10 mins better than 10 books on strategy, thank you!
this video is one of those, that really changes my world view and helps to understand, why i am failing so much. Of course, i knew differences of strategy and planning as words or concepts, but it appeares that i didn't know what it really means. So as i understood - strategy is when you exactly know what do you want and pretending to know how to achieve it, so it includes possibilty of reaching the goal or failing. And planning - is like a poster on the wall, they just makes you feel different, whenever you're looking at them)
Strategy, as the esteemed professor explains, may have some external variables while planning is mostly involved with internal set of actions. All strategic actions will require planning but not all planning need strategy , I guess :)
strongly agree
Roger Martin is an excellent communicator. This breakdown of strategy vs planning was explained without any buzzy jargon and packed full of useful information.
I was taught that strategy is one or two simple concepts that the whole team can understand and apply, which will help get them into a better position to ultimately win the game. But in an open game of business or life, these can be the mindsets that help you and the team to get to the next better position of opportunities.
Currently studying for my MBA and believe there needs to be more clarity between strategy and general analysis. Great to hear someone who has the same idea. I believe I will be referencing a lot of Roger Martin's work for the remainder of my master's.
Many thanks!
This reveals how money dominates our teaching and our thinking. It explains why we are incapable of developing a strategy to avoid climate breakdown and ecosystems collapse. At no point does Professor Martin indicate any awareness that humanity are exceeding the carrying capacity of Earth, and that salvaging this dire situation needs to take priority over making money. This little animation will help anyone who wishes to understand how we might develop a strategy to dig ourselves out of this dangerous direction. th-cam.com/video/yyEEJGoaLd4/w-d-xo.html
I was reading and watching about strategy more than 14 years. This video completely revolutionized how I saw it. Now, I can think strategically. Thanks Prof. Roger Martin
I think another feeling while doing the strategy is excitement. The feeling when you actually see that there is a possibility of winning!
Amazing video btw! Thank you 🙏
I recommend vincent hovorka he helped me achieve my goals. Very smart
while im not familiarized with army practics nor language, ive heard a tiny bit about it. One thing that ive heard is that, on the battlefield, there are 3 aproaches. ive known about this in spanish, so i hope that the translation of the terms will not have what is called "false friends". My english skills are not very good either.
So, after this introduction about my lack of knowledge on both fields (army and english language), this is what i heard:
by one side you have the tactics. the tactics help you to win a position or a battle: you have your resources, your weapons and men, your logistics, you try to win your enemy and after the struggles, you succeed. thats about tactics.
The second concept is the strategic level: what do you want to get and how will you try go get it. Which are your goals and how the planning of the tactics level helps you to obtain your strategic position in order to win the war.
both are in the video. And, indeed, a plan is not a strategy. sometimes you should know what is important and what is not, and while on a plan could seem easy to win a battle due to the tactics, the strategy may recommend to not to do it and to follow a different path.
but there is a 3rd element: the operational level. Is the one that connects the strategic and the tactic levels. it seems to consists on obtaining and put together all the information (history, resources..) and on thinking not only on the next battle or the next position you want to take in order to gain a strategic advantage, but also on how the things will be then, when you'll have reached that point, and then be prepared for that too and also for what will come after that until the victory. Planning not only as how or when you are gona make this and this following a plan, but also as layers, as phases, for when as a result of your actions the environment will have changed, your strategic goals are still far away and you need to make a new plan. have those different plans ready, layered and focused on your strategic goals is the operational level.
according to the operational level you may use your resources on a different way that will change the tactic level and may change also the strategic, while you think on a deeper aproach that may reduce your loses because your planning is on a different scale. As example, to avoid a full frontal attack and choose to break the enemy line instead, going behind their lines and targeting their logistics and their headquarters (while you may make and encirclement movement, but that wouldnt be the main point), because you dont only think on defeating the enemy, but also on how the things will be when this will happen and how to be ready for that.
i hope that my limited knowledge of english will not be an impediment for the understanding of my arguments.
Thank you very much Professor, people can't do things that excess their abilities while they just start a safe "plan". I have to win in my stage. Mind, Creativity, Logic, Implement.
This was absolutely great! I am about to start a micro-manufacturing business. A single-page strategic outline will help me to both explain to people what I want to achieve AND manage the progress with an eye toward our end goal. Thank you so much! Tim
This makes sense, I always had that theoretical mindset of doing things which turns out to be the strategy.. But always people like to see planning which is just steps to take to do things to accept your ideas. This explanation has confirmed my own understanding of what strategy is, and the final part where he said it should be short makes even better.
This Canadian Professor appears to be well grounded both in language and business. The tack or approach he has taken to expand on the term 'strategic planning ' or how he is staking out the difference between him and others on the understanding of the relationship of two words 'plan' and 'strategy' in business terms does not sound right. Now let me say why I beg to differ with him. First off, since for different contexts more often than not the use of 'plan' and 'strategy' together is widely understood in business terms, as they are meant to lay more emphasis on the word 'strategy', world business community is absolutely fine with it. Plan, or plans, planning or action plan here may refer to a number of or group of or set of tasks or activities drawn up for a project. 'Strategy' here may refer to the elaborate mechanics of accomplishing that group of tasks to reach its objectives and goals set ahead as part of the plans. To give you an example, say you have a parcel of land. Now, you have made a plan to grow wheat on it, you expect to get 200 tons of wheat given the size of your land. Next up, you develop a 'strategy' - meaning how you want to achieve your objectives and goals. So, since these two words 'plan' and 'strategy' hang well together and they have so close relationship between them in business terms, the 'strategic planning' or 'strategic plans' makes perfect sense, because they embody a well-organized work-plan or set of tasks with well-thought of mechanics of accomplishing those activities for success.
Given the fact that he is living within a much smaller population, his knowledge is limited in scope. Apparently, he is in no position to extrapolate his idea to us. The bottom line is that this Canadian professor is absolutely in the wrong about the term 'Strategic Planning'.
Jahid, a Bangladeshi-Canadian, also, a Business Marketing Graduate. Thank you.
One of the best Leadership related videos I've seen this year! Brilliant! Thank you!
Thank you. In my business career, I've only seen "strategy" slide decks that were actually tactical plans, as you say. Hardly anyone understands strategy in business, even successful business people often succeed by chance/luck rather than strategy.
This is a great presentation, thank you. It fits along with the concept that if you're not incurring some risk, you're not going to win. Or to extend that, if you're only managing the expense side of a business, you're eventually going to lose. It's a slow downward spiral to lowest cost for commodity production, at best.
Well presented, easily understandable difference between strategy and planning using great examples. Thank you!
The very essence of winning strategy is competive advantage. It works like a silver bullet: it permeates the whole organisation.
Both Strategy and Strategic Planning are both subsets of Strategy Management
Good point. Thanks.
This Canadian Professor appears to be well grounded both in language and business. The tack or approach he has taken to expand on the term 'strategic planning ' or how he is staking out the difference between him and others on the understanding of the relationship of two words 'plan' and 'strategy' in business terms does not sound right. Now let me say why I beg to differ with him. First off, since for different contexts more often than not the use of 'plan' and 'strategy' together is widely understood in business terms, as they are meant to lay more emphasis on the word 'strategy', world business community is absolutely fine with it. Plan, or plans, planning or action plan here may refer to a number of or group of or set of tasks or activities drawn up for a project. 'Strategy' here may refer to the elaborate mechanics of accomplishing that group of tasks to reach its objectives and goals set ahead as part of the plans. To give you an example, say you have a parcel of land. Now, you have made a plan to grow wheat on it, you expect to get 200 tons of wheat given the size of your land. Next up, you develop a 'strategy' - meaning how you want to achieve your objectives and goals. So, since these two words 'plan' and 'strategy' hang well together and they have so close relationship between them in business terms, the 'strategic planning' or 'strategic plans' makes perfect sense, because they embody a well-organized work-plan or set of tasks with well-thought out of mechanics of accomplishing those activities for success.
Given the fact that he is living within a much smaller population, his knowledge is limited in scope. Apparently, he is in no position to extrapolate his idea to us. The bottom line is that this Canadian professor is absolutely in the wrong about the term 'Strategic Planning'.
Jahid, a Bangladeshi-Canadian, also, a Business Marketing Graduate. Thank you.
Very very insightful comments about the difference between planning and strategy. I have often wondered why when I plan things, it often doesn't happen, but when I just do it without a plan, I am able to make a difference. I have felt a plan is a nice to have rather than a requirement. Prof Martin's talk has made me realize why this is. Actually, a plan is a good thing, but it is secondary to a way to win in what we are trying to accomplish, be it clean up an out of control room in one's apartment to starting a new company. Many thanks for this great talk.
This Canadian Professor appears to be well grounded both in language and business. The tack or approach he has taken to expand on the term 'strategic planning ' or how he is staking out the difference between him and others on the understanding of the relationship of two words 'plan' and 'strategy' in business terms does not sound right. Now let me say why I beg to differ with him. First off, since for different contexts more often than not the use of 'plan' and 'strategy' together is widely understood in business terms, as they are meant to lay more emphasis on the word 'strategy', world business community is absolutely fine with it. Plan, or plans, planning or action plan here may refer to a number of or group of or set of tasks or activities drawn up for a project. 'Strategy' here may refer to the elaborate mechanics of accomplishing that group of tasks to reach its objectives and goals set ahead as part of the plans. To give you an example, say you have a parcel of land. Now, you have made a plan to grow wheat on it, you expect to get 200 tons of wheat given the size of your land. Next up, you develop a 'strategy' - meaning how you want to achieve your objectives and goals. So, since these two words 'plan' and 'strategy' hang well together and they have so close relationship between them in business terms, the 'strategic planning' or 'strategic plans' makes perfect sense, because they embody a well-organized work-plan or set of tasks with well-thought out of mechanics of accomplishing those activities for success.
Given the fact that he is living within a much smaller population, his knowledge is limited in scope. Apparently, he is in no position to extrapolate his idea to us. The bottom line is that this Canadian professor is absolutely in the wrong about the term 'Strategic Planning'.
Jahid, a Bangladeshi-Canadian, also, a Business Marketing Graduate. Thank you.
Plans don’t get you rich, strategies do.
Mr Noud Mikan said a good binary trading strategy will simply much of the decision making about where and when to trade, with TIMING the key to everything where trading is concerned, the less guess work there is around entry and exits points, the better. Particularly for less experienced traders….
I’m no doer as it’s rather much too complex for me, but I know when it comes to investing strategies do work in the right hands….
Before I started my business, I kept asking myself what I could offer that could not be easily achieved by my competitors. I believed I had found my 'iron bowl', so I built my business around it and never looked back. I haven't paid much thought to it since, but looking back, it was definitely the most impactful decision I've made. I could've EASILY been just another fish in the sea.
That said, I'm a chronic planner. I love finding ways to plan for things that normally don't need plans. Coming up with a strategy was just a part of my business plan.
Plan to Survive; Strategize to Thrive. Both are positive efforts.
I've been hearing "strategic planning" for quite some time, and I get confused each time, thanks a lot for this video it is insightful!
There is a simple test I teach my people to see if something is really a strategy: What is it sacrificing ? Trying to do/achieve/improve many things at once is probably not a strategy.
This Canadian Professor appears to be well grounded both in language and business. The tack or approach he has taken to expand on the term 'strategic planning ' or how he is staking out the difference between him and others on the understanding of the relationship of two words 'plan' and 'strategy' in business terms does not sound right. Now let me say why I beg to differ with him. First off, since for different contexts more often than not the use of 'plan' and 'strategy' together is widely understood in business terms, as they are meant to lay more emphasis on the word 'strategy', world business community is absolutely fine with it. Plan, or plans, planning or action plan here may refer to a number of or group of or set of tasks or activities drawn up for a project. 'Strategy' here may refer to the elaborate mechanics of accomplishing that group of tasks to reach its objectives and goals set ahead as part of the plans. To give you an example, say you have a parcel of land. Now, you have made a plan to grow wheat on it, you expect to get 200 tons of wheat given the size of your land. Next up, you develop a 'strategy' - meaning how you want to achieve your objectives and goals. So, since these two words 'plan' and 'strategy' hang well together and they have so close relationship between them in business terms, the 'strategic planning' or 'strategic plans' makes perfect sense, because they embody a well-organized work-plan or set of tasks with well-thought out of mechanics of accomplishing those activities for success.
Given the fact that he is living within a much smaller population, his knowledge is limited in scope. Apparently, he is in no position to extrapolate his idea to us. The bottom line is that this Canadian professor is absolutely in the wrong about the term 'Strategic Planning'.
Jahid, a Bangladeshi-Canadian, also, a Business Marketing Graduate. Thank you.
That was a fantastic explanation! Thanks HBR!
I think I need to retool my brain to thinking strategically rather than planning, despite the fact I’m not a manager. But one day I hope to go into management and this idea of strategy will help.
🎯 Key Takeaways for quick navigation:
00:00 🎯 *Planejamento vs Estratégia*
- Planejamento e estratégia são conceitos distintos.
- O planejamento envolve uma lista de atividades a serem realizadas, como abrir uma nova planta ou lançar um programa de desenvolvimento de talentos.
- Estratégia, por outro lado, é um conjunto integrado de escolhas que posicionam uma empresa de maneira única no mercado, visando alcançar uma vantagem competitiva sustentável.
01:25 🤔 *Estratégia Coerente*
- Uma estratégia eficaz precisa ser coerente e factível.
- Ela deve explicar por que a empresa escolheu um determinado campo de jogo e como planeja vencer nesse campo.
- Uma estratégia clara permite traduzir teoria em ações concretas.
03:22 💡 *Desafios do Controle*
- Planejamento lida com recursos controláveis, como custos e recursos humanos, enquanto estratégia envolve resultados desejados, como a preferência dos clientes.
- Controlar custos pode ser reconfortante, pois a empresa tem controle direto sobre eles, ao contrário da preferência dos clientes.
- Estratégias eficazes exigem previsão e aceitação de riscos, pois os resultados desejados estão fora do controle direto da empresa.
Made with HARPA AI
In my view sir has developed a different Types of strategy from Grass root observation.I feel nothing Wrong.... Profitability is important from his long experience related to plan v/strategies.Vry Amazing nd Inspiring vdo lecture.sincerely appreciated for new idea.
I find this to be a matter of semantics of language in my opinion. Everything described as strategy can still be called planning and it still works out. The point is making the appropriate set of decisions and actioning on them.
Like you said. The prof may well be hollow if we have a harvard prof playing word games.
If you do strategy it gives you the best possible chance winning - this was the line that wished was told in class
This is one of the channels that gave me the courage to start my TH-cam channel 9 months ago about self development. Now I have 1,7444 subs and > 1k hours of watch time. I know it’s not comparable with others but I’m still proud I started because I’ve been learning so many lessons that I could haven’t learned without getting started in the 1st place.
Brilliant just brilliant ❤️ in 6 min you cleared my entire thought process. I consider myself to be a brilliant planner but over time I have stopped relying on planning, as I came to the conclusion it is the random nature of world which makes most plans fail. And since I dropped a fundamental belief of my life( Planning is good). I have been struggling with conflicts of within myself. I watched this video twice just to have a more intense exposure to what you were saying. Just bought your book on audible. Thank you 👍
Planning is good, it is just not everything in business and life. Plan, but be prepared and have a mindset to change it quickly
Absolutely loved this! Will be using this as a topic of discussion for my class tonight!
Simply Seamless and Brillant. Thank You!
Great video. My question is -- if all these so-called experts are running all these companies and most of them have Harvard Business Degrees, then why do most of them seem to not have a strategy in place. Most of them are playing to play, as he stated. How can I eek out a little more growth so that I keep getting my bonuses, which allows me to buy a bigger house, etc etc. Managers of companies usually don't have the guts to plan and execute a real strategy to WIN!
This is just brilliant!
Thanks a lot HBR and Professor Roger Martin. Great piece of knowledge!
I recommend vincent hovorka he helped me achieve my goals. Very smart
Such an informative video
I will start applying more strategies in my life as opposed to plans
Thank you 🌷
Nope...evwry strategy needs a plan...every plan does not need strategy
Excellent video! I especially like the SouthWest example after the recent catastrophe they suffered with over 90% of their flights being cancelled due to weather and their unique flying system. I think it really illustrates weighing the risk and reward of building a strategy.
Great points. Sometimes, people run straight to planning before identifying the "why" and "how", as an organization. I concur, that strategy is the basis of thought which leads to great plans of action ,and moreover, reduces uncertainty. By considering the current state of business, it's capabilities and/or the best applicable approach, realistic and desired plans can ensue.
This reveals how money dominates our teaching and our thinking. It explains why we are incapable of developing a strategy to avoid climate breakdown and ecosystems collapse. At no point does Professor Martin indicate any awareness that humanity are exceeding the carrying capacity of Earth, and that salvaging this dire situation needs to take priority over making money. This little animation will help anyone who wishes to understand how we might develop a strategy to dig ourselves out of this dangerous direction. th-cam.com/video/yyEEJGoaLd4/w-d-xo.html
thanks for this!!! i'm in the middle of writing 3 books at the same time. it feels much more like strategizing and much less like planning. I'm constantly adjusting details and making sure the characters' choices fit the strategy. or i guess the head canon in this case. and this definitive separation of strategy versus planning is actually really helping me work out those kinks. so thank you!!!
I appreciate this excellent bite-size video which is much better than attending a whole year-long MBA class. So clear and easy to absorb and understand. I particularly love the idea of accepting the angst as this is the hardest point I used to convince the management when I challenge them. We need a strategy, not a plan!
This Canadian Professor appears to be well grounded both in language and business. The tack or approach he has taken to expand on the term 'strategic planning ' or how he is staking out the difference between him and others on the understanding of the relationship of two words 'plan' and 'strategy' in business terms does not sound right. Now let me say why I beg to differ with him. First off, since for different contexts more often than not the use of 'plan' and 'strategy' together is widely understood in business terms, as they are meant to lay more emphasis on the word 'strategy', world business community is absolutely fine with it. Plan, or plans, planning or action plan here may refer to a number of or group of or set of tasks or activities drawn up for a project. 'Strategy' here may refer to the elaborate mechanics of accomplishing that group of tasks to reach its objectives and goals set ahead as part of the plans. To give you an example, say you have a parcel of land. Now, you have made a plan to grow wheat on it, you expect to get 200 tons of wheat given the size of your land. Next up, you develop a 'strategy' - meaning how you want to achieve your objectives and goals. So, since these two words 'plan' and 'strategy' hang well together and they have so close relationship between them in business terms, the 'strategic planning' or 'strategic plans' makes perfect sense, because they embody a well-organized work-plan or set of tasks with well-thought out of mechanics of accomplishing those activities for success.
Given the fact that he is living within a much smaller population, his knowledge is limited in scope. Apparently, he is in no position to extrapolate his idea to us. The bottom line is that this Canadian professor is absolutely in the wrong about the term 'Strategic Planning'.
Jahid, a Bangladeshi-Canadian, also, a Business Marketing Graduate. Thank you.
@c2b b2c Roger Martin was the Director for the global consulting firm Monitor for 13 years (Monitor was in part established by renowned competitive strategy and Harvard academic Michael Porter). He has tons of international experience.
Excellent lecture of Professor Martin! Simple, clear and objective.. Excellent lecture of Professor Martin! Simple, clear and objective..
Strategy is defining, what to offer, who to offer it, and how to offer it. With maximum leverage on outcomes with the least inputs and operational drags.
I.e. selling something that can be replicated multiple times without added cost and delivering it to the highest-paying customer's mass market.
1. High margins
2. High sales volume
3. Higher ticket sizes