We discuss the misconception that strategy is simply a plan and emphasize that strategy is about winning in the marketplace and being successful. Many companies claim to have a strategy, but it often turns out to be mere planning without clear logic or coherent actions.

I also explain that traditional long-term planning is no longer effective in today's fast-changing and disruptive business landscape. I advocate for a shift towards shorter cycles of strategy focused on addressing immediate challenges and seizing opportunities.

I also highlight the importance of being different and bringing innovation into strategy rather than just copying competitors' practices.

Then we discuss the role of consultants in strategy development and I suggest that while consultants can provide valuable insights and analysis, the responsibility for developing and implementing a strategy ultimately lies with the CEO and the leadership team.

I am convinced that involving stakeholders strategically throughout the process ensures alignment, commitment, and a well-understood strategy.

This episode of the KJ Masterclass Live was first published here: https://www.youtube.com/watch?v=V2ZD1rXgjj8