Building Margin 43: Are Strategy and Strategic Planning the Same Thing
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Are strategy and strategic planning the same? Many think so, but they're not. Planning focuses on allocating resources and outlining activities, while strategy is about making bold, tough choices to position a company for success. Too often, leaders confuse budgets with strategy, missing the chance to differentiate. Just look at Blockbuster versus Netflix—one planned, the other strategized. To win, companies must prioritize strategy over routine planning.
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