{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"What is Strategy?","description":"Welcome to the Strategic Executive Show. I\u2019m your host Rich Horwath,  founder of The Strategic Thinking Institute. In this series, I\u2019ll share tools, tips and techniques to enhance your strategic thinking and planning capabilities to set direction, create advantage and achieve your goals. This week, it\u2019s all about digging into what strategy is at its core, and how to understand and reconnect with its true purpose and meaning.    First, I\u2019ll chat with a special guest\u2013Chinese General, philosopher, and author of, The Art of War, Sun Tzu\u2013and by the way, he\u2019s dead\u2013to talk about the core differences between strategy and tactics, how effective strategy can create a roadmap to your goals, and the importance of tuning up your strategic plan  to adapt to your evolving environment. Then, we dive into the most common mistake regarding strategy, and why mistaking operational effectiveness for strategy can prevent you from separating yourself from the pack. Our first episode wouldn\u2019t be complete without a quick visit from Strategy Jack, to help us break down some tools and techniques to craft an impactful roadmap. Let\u2019s strategize!    What You\u2019ll Hear In This Episode: How strategy has become convoluted and confused with other terms  in business.  The common traps to avoid when developing your strategy.  The difference between strategy and tactics.  Why strategy without insight compromises your competitive advantage.  The three elements within an impactful strategy: Resource allocation, unique system of activity, and primary components.  What research says 93% of the top financially performing companies have in common.  What two questions good planning should aim to answer. The G.O.S.T. Framework: Goals, objectives, strategies, and tactics.   Quotes\/Tweetables: \u201cStrategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat\u201d [3:50] -Sun Tzu \u201cWithout strategy, it becomes a game of tactical roulette, where you're just throwing things up on the wall to see what sticks. With strategy in place, it provides a path to your destination.\u201d [4:00] -Rich  \u201cPreparation is seldom exciting, but it is the foundation of success.\u201d [5:02] -Rich \u201cSimply put, strategy is how you plan to achieve a goal.\u201d [8:30] -Rich \u201cShow me how your people are spending their time, talent and budget every day, and you'll see your true strategy.\u201d [9:15] -Rich \u201cGood leaders don't leave strategy to chance\u201d [9:30] -Rich \u201cIt's not until you get off the beaten path that the beating can begin\u201d [10:38] -Rich \u201c\u200b\u200bIt's very difficult to fix something that's been done badly, you'd better do your thinking and planning up front when you have the time.\u201d [17:27] -David Mamet   Connect with Us! Strategic Thinking Institute  Rich Horwath: LinkedIn | Twitter | Instagram | Books    Mentioned :  The Art of War  StrategyMan vs. the Anti-Strategy Squad: Using Strategic Thinking to Defeat Bad Strategy and Save Your Plan Keywords: strategic thinking, strategy, strategic planning, strategic, tactics, goal, goals, objective, objectives, plan, planning, business, sun tzu, create, develop, effectiveness, leadership, rich horwath,  ","author_name":"The Strategic Executive Show","author_url":"https:\/\/www.strategyskills.com\/","html":"