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Your Strategic Plans Probably Aren’t Strategic, or Even Plans

Harvard Business Review

It happens all the time: A group of managers get together at a resort for two days to hammer out a “strategic plan.” The most basic mix-up is between “objective,” “strategy,” and “action.” ” This is an objective, rather than a strategy. Busá Photography/Getty Images.

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Designing the Machines That Will Design Strategy

Harvard Business Review

LTCM was founded, in 1994, by some of the best minds in finance theory, including two Nobel Prize winners. If all you have is a hammer, then everything will look like a nail. Only people can define the objectives and use the holistic judgment necessary. Remember Long-Term Capital Management ? Design appropriate to the aim.