The Difference Between Strategic Planning and Strategy

Strategic planning, as commonly practiced, lacks strategy and focuses more on planning. The speaker argues that true strategy involves influencing the things you don't control, particularly the customer. It's about configuring what you control (e.g. hiring, raw materials, advertising) in a way that compels customers to take the desired action. Strategic planning, on the other hand, often results in long lists of initiatives that fail to compel customers. The key is to make real strategy choices that are distinct and compelling, rather than simply avoiding stupid choices.