Building a plan, such as hiring people, constitutes the cost side of the business.
Strategy, on the other hand, specifies the competitive outcome you aim to achieve:
<ul>
<li>You don't entirely control the strategy. Instead, it's about what you believe can happen and what you want to occur. </li>
<li>Strategy involves initiatives like making customers prefer our products more, rather than guaranteeing success. </li>
<li>It's about finding a winning approach to grow consistently.</li>
</ul>

Planning VS strategy

<ol>
<li>Strategy entails inherent angst.</li>
<li>It induces feelings of anxiety.</li>
<li>Strategy cannot be definitively proven.</li>
<li>Strategy aims to position us advantageously.</li>
<li>Embracing uncertainty is a hallmark of effective leadership.</li>
<li>Clearly outline the logic of your strategy.</li>
<li>Focus on the "why" to avoid unnecessary complexity.</li>
<li>Formulate a strategic plan to achieve your goals.</li>
</ol>
Implementing strategy is more effective than simply planning.

The Planning Trap

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": https://www.amazon.com/New-Way-Think-Management-Effectiveness-ebook/dp/B09KHKWB7B

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