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07/30/2012

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Thanks, Dan, for reminding folks of the differences between strategy and tactics.

I'd maybe add "Avoid the Perfection Trap." When time is short and resources are limited, don't let the perfect become the enemy of the good. Be careful to recognize when the result is good enough to halt the perpetual search for total perfection. It almost always requires a few mistakes to find the optimal path (http://www.compensationcafe.com/2011/01/the-value-of-mistakes.html).

Great article. I especially like #5. There are plans/programs we hold on to because to let them go is like losing our safety net --- and we have to then come up with something new. Not just HR people. Look at the founders (usually) who won't let go of something they created to move on into the future. Have you ever read Vijay Govindarajan? He has a business strategy model very much like this.

Well Dan, you jumped in ahead of me on this. I was going to write about this from the Vijay angle. Grrrrr. . . .

Good post. So many companies try to do so much at one time. Like the always say... "Good execution beats the best plan". We sometimes need to slow down and take the time to execute the plans we have laid out.

@Jim - The difference between Strategy and Tactics is not just lost to many in the compensation world. It is a common misunderstanding.

And as @Doug Mauter says: "Good Execution beats the best plan"

Put strategy, tactics and execution together and you usually have success.

@Jacque
I haven't read Vijay Govindarajan, but will put him on my "to do" list.

The problem with dropping something is that often you were the one who created and built it. It is hard to part with something that you had a hand in making (read the Lego story in Dan Ariely's "The Upside of Irrationality")

Thanks for the comments and sorry I beat you t the punch. That being said I am sure more can and should be said about this.

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