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The Difference Between Business Plans and Strategic Plans

Track and Field

Question: What’s the difference between a business plan and strategic planning? Answer: To some, there’s no difference, and both play a critical role.  But to me, it’s a difference in focus between planning  and action and strategic plans are the better choice when the goal is to get out of the starting gate and win the race. A full, formal business plan is great if you’re a start-up at square one, you’re going for funding or it’s a contractual mandate, or you’re at a major turning point. The process … [Read more...]

Strategic Action – From Horror to High-Performance

High Performance

If management consultants made horror films, most would somehow feature the theme of strategic planning gone lame.  Let me pitch an example flick and see if you’ll green-light me. After years of neglect, Acme Widgetry finally does it – they “get serious” and build a strategic plan.  It is a good plan full of good information and well-intentioned statements about priorities and what is important.  At great expense, the plan is copied, bound, and distributed to key personnel who each dutifully “install” the plan… … [Read more...]