| A Strategy is Different From a Plan | | | | A plan dictates; strategy shapes. A plan is rigid; |
| The word "strategy" is over-used and its meaning | | | | strategy is fluid. A plan is an order; strategy is a |
| has become diluted. It is often used synonymously - | | | | conversation. |
| and mistakenly - with the word "plan". Let's clear this | | | | In business, strategy provides the overall goal, the |
| up. | | | | context in which the goal will be reached, and the |
| A plan is a Sargent-major. It tells you precisely what | | | | unique approach that guarantees success for the |
| you should do. "Take three men, your rifles and | | | | firm. All plans then spring from the strategy. |
| grenades, and start climbing this hill from the | | | | Strategy is Unique and Wants to Win |
| southwest corner. Continue straight up the hill until | | | | Let me emphasize two things: first, strategy defines |
| you reach the top where you will plant this flag." | | | | a unique approach that is unlike any other firm. |
| What happens if we're outnumbered? What happens | | | | Strategy is designed to achieve an objective in a |
| if we meet enemy machine guns en route? A plan | | | | way that nobody else can replicate. |
| can't answer. | | | | Second, strategy is concerned with success and |
| Strategy provides an overall objective but doesn't tell | | | | winning, whether on the battlefield or in the market. |
| you exactly how to accomplish it. Strategy is the | | | | Success depends on uniqueness: winning requires an |
| wise counselor who stands by your side in the heat | | | | edge, some form of differentiation, a "secret sauce". |
| of battle and reminds you of your strengths. "We'll | | | | Now that we know how "strategy" and "plan" are |
| win the war by Christmas using stealth and cunning", | | | | different, here's a strict definition of strategy that |
| goes the strategy. "By the way, plant this flag at the | | | | we'll use in the next article: |
| top of the hill by dawn." What route should we use? | | | | Strategy is a beacon that specifies a goal, a time |
| "Doesn't matter - but use stealth and cunning." What | | | | frame for achieving that goal, the context in which |
| happens if we're outnumbered? "Use your stealth and | | | | the goal will be reached, and the company's unique |
| cunning." What about the machine guns? "Stealth and | | | | approach that guarantees its success. |
| cunning." | | | | Do you know what your firm's strategy is? |