in summary, strategy involves external elements and uncertainty whereas planning does not. And strategy focuses on preparing to win whereas planning focuses on completing a checklist of work.

One of the hallmarks of a great teacher is to communicate and disseminate seemingly complex ideas in a simple manner. Professor Martin accomplishes this brilliantly in this video.

Takeaways: 1. Strategy and planning are not the same thing. Strategy involves making integrative choices that position you on a playing field of your choice in a way that you win. 2. A great strategy must have a coherent theory, be doable, and be translatable into actions. 3. Planning does not require coherence, but it is comfortable because it involves the resources you can control. 4. Strategy requires putting yourself out and specifying an outcome that involves customers wanting your product or service enough that they will buy enough of it to make the profitability that you'd like to make. 5. You do not control the customers, which makes strategy a trickier task. How: 1. Start by identifying the playing field you want to be on. Determine where you can win. 2. Develop a theory as to why this playing field is the right one for you to be on. 3. Determine how you will win on this playing field. What can you do to serve the customers on this playing field better than anyone else? 4. Translate your theory and choices into concrete actions. Imagine: Think of strategy as a map. The map has to show you where you are and where you want to go. It should also show you the terrain and the obstacles you may encounter along the way. Without a map, you'll be lost, and without a strategy, you'll be directionless. Why: 1. Strategy involves making integrative choices that position you on a playing field of your choice in a way that you win. 2. A great strategy must have a coherent theory, be doable, and be translatable into actions. 3. Planning is comfortable because it involves the resources you can control. 4. Strategy requires putting yourself out and specifying an outcome that involves customers wanting your product or service enough that they will buy enough of it to make the profitability that you'd like to make. 5. You do not control the customers, which makes strategy a trickier task. Perspective: 1. Instead of focusing on the activities you want to engage in, focus on the outcomes you want to achieve. 2. Instead of listing a set of activities that sound good, identify a set of choices that will make you win on the playing field you choose. 3. Instead of trying to control the customers, focus on serving them better than anyone else. What: 1. Focus on a specific market segment and differentiate from competitors. 2. Keep the business model simple and streamlined. 3. Use a clear and concise strategy that is easy to communicate and understand. 4. Accept uncertainty and take calculated risks. 5. Continuously monitor and adjust the strategy based on the changing environment. How: 1. Fly point-to-point instead of hub-and-spoke. 2. Use only one type of aircraft to simplify operations. 3. Avoid offering meals on short flights to reduce costs. 4. Encourage customers to book online to save money. 5. Avoid booking through travel agents to reduce costs. imagine: Southwest Airlines chose to navigate through a less crowded and less risky path in the airline industry. They chose to fly point-to-point instead of the hub-and-spoke model used by major carriers, which is comparable to taking a direct flight instead of making multiple stops. They also focused on using only one type of aircraft, which is like having a specialized tool for a specific task. By keeping their business model simple and streamlined, they were able to reduce costs and offer lower prices to customers. Case: To apply these principles and tactics to your own situation, you need to first identify your target market and differentiate yourself from your competitors. Simplify your business model and focus on one or two key strengths that set you apart. Use a clear and concise strategy that is easy to communicate and understand. Take calculated risks and accept uncertainty, and continuously monitor and adjust your strategy based on the changing environment. Why: 1. Flying point-to-point reduces aircraft waiting time and increases efficiency. 2. Using only one type of aircraft simplifies operations and reduces maintenance costs. 3. Avoiding offering meals on short flights reduces costs and increases efficiency. 4. Encouraging customers to book online reduces costs and increases convenience. 5. Avoiding booking through travel agents reduces costs and allows for direct communication with customers. Perspective: 1. Southwest's success is a result of taking a different approach to the airline industry and offering a unique value proposition to customers. 2. Southwest's business model is an example of the importance of simplicity and efficiency in achieving success. 3. Southwest's success can be attributed to their ability to continuously monitor and adjust their strategy based on the changing environment. What: 1. Flexibility: A good strategy is flexible and adaptable to changes in the environment or circumstances. 2. Clarity: A clear understanding of the end goal and how to achieve it is crucial for a successful strategy. 3. Focus: A strategy must prioritize and focus on the most important objectives to avoid spreading resources too thin. 4. Agility: The ability to act quickly and make decisions under pressure is necessary for a successful strategy. 5. Resourcefulness: A good strategy utilizes available resources effectively and efficiently. 6. Innovation: Innovative thinking is necessary to create a unique and effective strategy. 7. Risk management: Risk assessment and mitigation strategies should be incorporated into the overall strategy. How: 1. SWOT analysis: Evaluate strengths, weaknesses, opportunities, and threats to create a strategic plan. 2. Competitive analysis: Identify competitors, their strengths and weaknesses, and how to differentiate from them. 3. Market segmentation: Divide the market into groups and create targeted strategies for each segment. 4. Branding: Develop a strong brand identity that aligns with the overall strategy. 5. Differentiation: Identify unique selling points to differentiate from competitors. 6. Marketing mix: Use the 4 Ps (product, price, promotion, and place) to develop a comprehensive marketing strategy. 7. Continuous improvement: Regularly evaluate and adjust the strategy to ensure it remains effective. Imagine: Think of strategy as a roadmap to your destination. Without a roadmap, you may get lost or take longer to reach your destination. However, if you stick too strictly to the roadmap, you may miss out on more efficient or scenic routes. The key is to have a flexible plan that allows for detours and adjustments as needed, while still keeping the end goal in sight. How: 1. Identify your goals and objectives 2. Evaluate your strengths, weaknesses, opportunities, and threats 3. Identify your target audience and segment the market 4. Develop a unique value proposition and differentiation strategy 5. Create a comprehensive marketing strategy utilizing the 4 Ps 6. Continuously evaluate and adjust the strategy as needed Why: 1. Flexibility allows for adaptability to changes in the environment or circumstances. 2. Clarity ensures a clear understanding of the end goal and how to achieve it. 3. Focus prioritizes and maximizes the use of resources. 4. Agility allows for quick decision-making and action under pressure. 5. Resourcefulness ensures effective and efficient use of available resources. 6. Innovation encourages unique and effective strategies. 7. Risk management assesses and mitigates potential risks for a successful strategy. Perspective: 1. The importance of understanding your target audience and creating a targeted marketing strategy. 2. The role of innovation in creating a successful strategy. 3. How to balance flexibility and focus in a strategic plan. 4. The impact of risk management on overall strategy success. 5. The benefits of continuously evaluating and adjusting the strategy.

Clear and concise. For some reason, we've been taught to develop a "planning mindset" rather than a strategic one. This short lecture has just unlocked a new worldview for me; a new way of building my ventures.

What I have learned from this : Planning - ' what I need to do' Strategy - ' What are my desired outcomes and how to get there?' So strategy has a component of goal and process ( how to get there), meaning having a stategy means you are exercising 'system thinking.'

This is absolutely gold. Every organisation I have ever worked for/with needs this priceless 10 mins.

This is pure gold, thank you. I have been trying to articulate for months why I think our strategy is not in fact a strategy but have never been able to put my finger on it. Now I can - we have a plan, not a theory.

I've never heard a simpler and illuminating explanation of the difference between strategy and planning, thanks a lot for sharing!

Being an academician, this video precisely describes the difference between Planning and Strategy. A great resource for me to share in class. Than you Prof. Martin.🙏

The simplicity of the video title drew me in and I went away with a clear understanding of the two. Thank you.

I worked as strategist for more than 10 years, most of which in leading positions, and attended Oxford & Harvard programs on strategy, I read one of the best books in strategy "Good Strategy/Bad Strategy", but this brilliant 9 minutes video taught me many lessons in a very simple way. Thank you Prof. Roger Martin.

Most managers don’t know the differences between strategy, tactics, operations, logistics and diplomacy. Of course you plan for each; you do so in a way that is integrated with the other elements, often changing along the way depending on the situation and new intel.

I can’t believe this invaluable lesson is accessible to many at virtually no cost. Roger is an excellent speaker. Incredible work😌🙏

This has been coming up into my feeds for several days and I thank God that I finally watched it. This is quite interesting and may serve as a reflective reference point after I adjust my strategy. This is good stuff! This bless.

Don't know how this video popped up in my suggestions but it definitely gives me clarity in the most simplest way for me to be successful in all I do. Thank you!

I've been working on EPM (Enterprise Performance Management) for a few years now, and I find this disconnect between strategy and planning quite often. Fantastically well summarised in this video. Loved it.

Wow - this is one of the best lectures I've heard in a long time. I had never thought of strategy v. planning. I learned a lot. Thank you!

One of the best Leadership related videos I've seen this year! Brilliant! Thank you!

Thank you! Straight, short, clear and encouraging explanation.

Excellent lecture of Professor Martin! Simple, clear and objective.

I could listen to this guy speaks for hours about business

Winning Mantra in a nutshell. My takeaway is @9.6 to @9.26 . Never found such a super simplified version of Strategy. Thank you Prof. Roger Martin!

Thank you sir! A lot of people are so set in their ways that they will not change their attitude to strategy. They are so well versed in the practice of this their "strategic planning" and also well rewarded for their expertise in it by their organization that it would be business as usual. That leaves plenty of opportunity for disruptors. More for me!

In many ways, this is similar to the difference between Waterfall and Agile style of project management. Planning for comfort or Strategising for wining. Very Insightful.

Wow. Not gonna lie, when the video started I was like "this isn't what I'm looking for, I need to know how to write a strategy" but this video is a nice nugget that helps put all the other videos I watched into perspective.

You just freed my mind to explain a strategy I’ve developed but have been unable to articulate succinctly! Thank you for making this video!

Explained in such a simple manner that leaves no ambiguity in our minds. Thank you!

That’s the best video about strategy I’ve seen in years.

I saw someone saying this was their favourite HBR video. For me it's not just HBR, it inspired me so much, this is my favourite video EVER. Watched it 3x already to engrave it into myself and will probably do it a few more times :) Thank you for this amazing content

so well explained with simple words and example. thank you for the clarity. what a great start for 2024

Love this. It has saved my career. I was now feeling like "no"one can hear me. Cause I have been of the mindset, that one needs to give themselves and their business the best shot possible and that is scary since it is extremely speculative, yet it is more of something to trust and believe in......as this video suggests, that is strategy.....My confidence is back..

As a startup, this was incredibly helpful! Thank you for guiding us to look further than the checkboxes.

This is an exceptional video right before a huge meeting I have tomorrow to talk about our action plan to create a Go To Market STRATEGY... not a PLAN. Thank you so much for this.

I have never heard this sharp an articulation of strategy as this. The way Prof Martin has explained this is incredibly clear and helps understand the difference between playing and winning.

this guy is a genius....and then ppl wanna complain they cant do anything when this is literally free...this lesson alone can help your business get to 100k/year...

Watching Roger Martin's video on strategy is like having a private session with a world-class strategist. His insights are so clear and practical, yet profound.

I love how he broke this down to small-sized bits and also his relaxed tone, I didn't know when I watched it 3 times over. Love it!

explained in 10 mins better than 10 books on strategy, thank you!

This is better than attending a Harvard MBA class. Brilliant lesson! Thank you Prof. Roger Martin!

This is a great presentation, thank you. It fits along with the concept that if you're not incurring some risk, you're not going to win. Or to extend that, if you're only managing the expense side of a business, you're eventually going to lose. It's a slow downward spiral to lowest cost for commodity production, at best.

"Strategy" is a tool to respond the challenges of VUCA (volatility, uncertainty, complexity, and ambiguity) environment. "Planning" is to improve on best practices. Ultimately, both are essential. Excellent video!

Strategy is the specifics on why and the how to implement the long term plan. Love it!

Well presented, easily understandable difference between strategy and planning using great examples. Thank you!

A guard at the gate to my home gave me this lesson when I was young. Life-changing insight.

This was some of the best information about business I have ever seen. Thank you for this!

Very simple yet comphrehensive. Thanks for providing clarity on plan and a strategy. I am sure there are many things that we have to un-learn and re-learn in the right way.

100%. I seem to have spent most of my years in senior management - commercial and non-profit - fighting against the fudge of "strategic planning", which results in neither strategy nor planning being done well, let alone in harmony. In particular, for non profits, attention to strategy shines an essential light on the organisation and its purpose. I suggest that many non-profits tend to systematise themselves from the bottom up - as they develop from the first simple, informal "let's do something about this" initiative into a more structured, long-term organisation. Each layer of organisational thinking - planning (including OD), strategy, mission and up to vision - tends to be considered and added only if and when the status quo becomes blatantly unmanageable or problematic, or if it is demanded by a board or funder. As a result, these are seen not as fundamental building blocks for an effective organisation, providing essential focus and clarity internally and externally, but as unwelcome, time-consuming chores, diverting energy from the organisation's real business. And inevitably, working from bottom upwards throws up many instances where the sum of the parts does not add up to a coherent whole, yet there is no higher logic by which to order the parts better or broker objectively between competing local interests. Making the time to stand back, and to consider and develop these layers of organisational thinking from top down - ie the other way, strategically - is possibly one of the most valuable things a non-profit can do to ensure its sustainability. It enables organisations to be as clear about what they don't do as about what they do (so helping avoid mission creep). It crystallises the "hymn sheet", giving the whole team a common understanding and language, and the brand the power of consistency. Each layer, if done properly, provides a powerful overarching logic for decision-making at the layer below it, making the whole process faster, simpler and better.

Before I started my business, I kept asking myself what I could offer that could not be easily achieved by my competitors. I believed I had found my 'iron bowl', so I built my business around it and never looked back. I haven't paid much thought to it since, but looking back, it was definitely the most impactful decision I've made. I could've EASILY been just another fish in the sea. That said, I'm a chronic planner. I love finding ways to plan for things that normally don't need plans. Coming up with a strategy was just a part of my business plan.

this video is one of those, that really changes my world view and helps to understand, why i am failing so much. Of course, i knew differences of strategy and planning as words or concepts, but it appeares that i didn't know what it really means. So as i understood - strategy is when you exactly know what do you want and pretending to know how to achieve it, so it includes possibilty of reaching the goal or failing. And planning - is like a poster on the wall, they just makes you feel different, whenever you're looking at them)

Sir…your words are brilliant..went deep inside of my heart

I’m not sure why this video was recommended to me, but it resonates with my work. I’m an instructional designer who used to be a curriculum designer, and I always explained the difference as curriculum design (CD) being the “what” and instructional design (ID) being the “how”. What I will say now is that CD is the plan and ID is the strategy. Thank you!

I'm a Strategic Planning Director of one of the leading advertising agencies worldwide for many years. But this short, sharp, crystal clear definition helped me a lot, even after more than 24 years global expertise in the industry. THANKS Roger Martin for sharing this masterclass.

Very very insightful comments about the difference between planning and strategy. I have often wondered why when I plan things, it often doesn't happen, but when I just do it without a plan, I am able to make a difference. I have felt a plan is a nice to have rather than a requirement. Prof Martin's talk has made me realize why this is. Actually, a plan is a good thing, but it is secondary to a way to win in what we are trying to accomplish, be it clean up an out of control room in one's apartment to starting a new company. Many thanks for this great talk.

That man just explain something I wasn't able to understand in 5 minutos! I can't belive it!!!! Thanks you for "landing" this two concepts 😮❤

I know this is supposed t be about winning and losing in the corporate world, but it rings very true for personal goals and life in general. Further, it seems remarkably sane, without all of the flailing busywork and failed promise often associated with "planning". I am retired and have been wrestling with goals and dreams for the rest of my life. This video makes so much sense, keeps things simple and is reminiscent of Occam's Razor: the simplest, clearest answer is often the correct one. Unlike most of YT and the Net, this was very useful. Thank you.

I think another feeling while doing the strategy is excitement. The feeling when you actually see that there is a possibility of winning! Amazing video btw! Thank you 🙏

What a terrific, bold and accurate video. Kudos Mr. Martin.

👌"Strategy gives the best possible chance of winning", what a closing statement. Thank you Prof. Roger Martin.

Incredibly well said and I love how you point out that it should feel uncomfortable. Even working for an internal department where our only customer is the business, strategy is still about how we organize as a group of people to deliver value. Planning is figuring out how we're actually going to execute those things. Too often the strategy step is skipped completely.

This was absolutely great! I am about to start a micro-manufacturing business. A single-page strategic outline will help me to both explain to people what I want to achieve AND manage the progress with an eye toward our end goal. Thank you so much! Tim

Best ending for an academic video with inspiration

Thank you very much Professor, people can't do things that excess their abilities while they just start a safe "plan". I have to win in my stage. Mind, Creativity, Logic, Implement.

Roger Martin is an excellent communicator. This breakdown of strategy vs planning was explained without any buzzy jargon and packed full of useful information.

Wow! Strategy focuses on desired outcome, acknowledging the angst that while the outcome is out of our control if we lay out our logic and are willing to tweak it we increase our chances at winning

This video is a blessing. It is timely. I am a planning fool, but I need a strategy for what I want to do going forward. Thank you. God bless. New subscriber.

Huge respect for Prof Martin

This is a fantastic presentation by all standards. Thanks to the internet for the things we learn from professionals from several miles away.

This is an incredible video. Brilliantly articulated. I'll remember the name Roger Martin. Thank you Professor.

The information provided is first-rate. Thank you. It is critical for a business to grasp the difference between having a plan and having a strategy.

I am an incessant maker of to-do lists, so naturally, the title of this video piqued my curiosity. This is wonderfully informative. What excites about it, is that I can see it being hugely useful not only for a business, but also for an individual attempting to realise personal goals.

I was reading and watching about strategy more than 14 years. This video completely revolutionized how I saw it. Now, I can think strategically. Thanks Prof. Roger Martin

Important ideas communicated with incredible clarity

Thank you for sharing.Sometimes ideas you just shared are just enough to trigger another person to formulate another idea that might make our world a better place.Again thank you.

If you are in a mad hurry, pick up at 8:27 and hit the mind blowing summary with a drop-the-mike ending! Plan for the win. Don't plan to be busy. These are worlds apart, and this video is a very thoughtful dive into the difference.

This makes sense, I always had that theoretical mindset of doing things which turns out to be the strategy.. But always people like to see planning which is just steps to take to do things to accept your ideas. This explanation has confirmed my own understanding of what strategy is, and the final part where he said it should be short makes even better.

Excellent lecture of Professor Martin! Simple, clear and objective.. Excellent lecture of Professor Martin! Simple, clear and objective..

Brilliant! Thank you for explaining this so clearly and briefly. This is WHY people always fight me in this. I have always completed this process as a thing that I simply do. Every time I shut up and do it, it works. Every time I ask people's opinion they confuse me and I fail. I have been doing this since I was a little kid, even with the smallest things. I subsequently found out that it had a lot to do with my cognitive stack and how I prefer to think. It is something that I do naturally. I'm very thankful to have this skill! ❤️

This is my favourite HBR video. I finally understand the difference between strategy and planning. Excellent explanation with practical steps, thank you! 🙏🏾

This is just brilliant! Thanks a lot HBR and Professor Roger Martin. Great piece of knowledge!

Extremely insightful, an invaluable lesson and useful business resource.

This is a beautifully articulated idea and certianly food for thought. Thanks!

Thank you for this video. As someone who is a natural planner and comfortable with that I was always shocked by the outcome because not everything went to plan. I realized now that affected me in the workplace because I was just focused on the job on not the bigger picture. This helped put things into a different perspective as I look for employment. Thank you so much.

That was a fantastic explanation! Thanks HBR! I think I need to retool my brain to thinking strategically rather than planning, despite the fact I’m not a manager. But one day I hope to go into management and this idea of strategy will help.

Simply Seamless and Brillant. Thank You!

This is a great lesson to us all. It's certainly made me think how I am taking things forward with more of a strategy, than a plan!! Thank you.

Absolutely loved this! Will be using this as a topic of discussion for my class tonight!

Indeed. It comes down to carefully looking at the seven aspects of business that enable a business to be purposefully understood. For each of the aspects there are four questions to ask: what are the facts; how are they unique; what could that uniqueness mean for future value creation; and what do we expect/want in the future. Effectively, what Roger Martin says comes down to integrating what you learn at business school in one case-specific thought exercise. Essential stuff.

I've been hearing "strategic planning" for quite some time, and I get confused each time, thanks a lot for this video it is insightful!

In a past life working at a corporation they’d run us through multiple classes run by consultants. Several times these consultants encouraged us to “think outside the box” when we tried that management quickly shut us down. It took me a while to understand that managements job was to minimize risk even though those actions reduced profitability and sales

I’m not even into businesses and entrepreneurship or any related field but I learnt so much from this. Tragic we don’t learn something like this in school.

Incredible content and the way he speaks and explain is just amazing

This is an absolutely great way of explaining strategy.

Such an informative video I will start applying more strategies in my life as opposed to plans Thank you 🌷

The military makes this much simpler. Strategy vs tactics. Both are important. Strategy is long-term and tactics are short-term and more situational.

Very, very smart presentation. Way too many planners out there in management, not nearly enough strategic thinkers.

This was a great video. Thank you. A succinct and focused approach to explaining what Strategy means to a company and its importance to defining the rationale for the existance of any business.

I appreciate this excellent bite-size video which is much better than attending a whole year-long MBA class. So clear and easy to absorb and understand. I particularly love the idea of accepting the angst as this is the hardest point I used to convince the management when I challenge them. We need a strategy, not a plan!

Mr Martin is right to separate the "why" from the "how". Too often there is insufficient thought and explanation of the "why". However he needs to recognise the "why" won't be achieved without the plans being put into place and delivered. I would suggest that rather than creating a disconnect between strategy and plans it would be better to explain how plans should be better linked into, and supportive of a well thought and articulated strategy. In short plans needs outcomes not just objectives and the control process should be monitoring for the delivery of the outcomes - providing action management to ensure the plans support the strategy. In my experience it is the implementation of strategy where failure occurs rather than the strategy itself.

Thank you, this was so helpful in getting clear on my business.

Awesome video on plan vs strategy. Clear and concise for anyone. There's a lot to think about here.