Getting the terminology right: Just what is a ‘strategic plan,’ anyway?

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In a recent blog post, Cape Chamber of Commerce & Industry Executive Director Sid Peimer of South Africa asks just what a “strategic plan” is, pointing out that a strategy and a plan are two different things. Mr. Peimer contends that a strategy is what one needs in order to attain a goal, while a plan is the “how.”

He goes on to reflect on Desautels Professor Henry Mintzberg’s concept of a strategy as a five-part entity, with the plan being just the first phase.

It’s not about the semantics, Mr. Peimer says, but rather about making sure that everyone’s on the same page in the name of making teamwork as seamless as possible.

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