Strategic Planning vs. Strategic Projects

strategic plan strategic value
Recent activity on Feb 02, 2019
4 Answers
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Patrick asked on Feb 01, 2019
Msc. Business & Entrepreneurship, Looking for top consulting opportunities

I was wondering if anyone could elaborate on the difference between strategic planning and strategic projects for me, which has come up in a recent thread.

My understanding would have been of strategic projects as a means to achieve corporate goals.

I would have viewed strategic planning as something broader than any individual strategic project, providing a framework under which strategic projects can take place over the medium to long term, and if this is true, that strategic planning would be the higher value-adding activity? It may also be closely aligned to budgeting in my mind.

According to a recent thread, strategic planning was considered a low value-adding activity.

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Guennael
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replied on Feb 01, 2019
Ex-MBB, Experienced Hire; I will teach you not only the how, but also the why of case interviews

Your understanding of strategic projects is correct; strategic planning however iis "strategic" in name only: the role is mostly about aggregating numbers and creating pretty slides for the next exec meeting. In my opinion, the main value to being in such a team is that you get to know everything that's happening in the team + excellent visibility from the C level; career trajectory pretty solid usually as well - but don't expect your work to move the needle.

I've done both, strategic project is a lot more fun and exciting

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Guennael
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updated an answer on Feb 02, 2019
Ex-MBB, Experienced Hire; I will teach you not only the how, but also the why of case interviews

Anonymous A, an "exciting strat project" would be one where you are working on something important to the company, where you are building something, try to outsmart the competition, improve a critical process... anything that's a little hard, where the outcome has potential to derive significant value to the company and generally move the needed. You also run the risk of failing obviously, so you have to be on your toes the whole time. But if it works... man it's fun! In my current job for example, I am building a new business capability for Samsung, and we've gone from business concept to well over $100M in revenue in 3 years (nearly $200M in 4 actually). Tell me that's not exciting?

"Strategic Planning"... will do none of that. Again, nice career trajectory - but if you don't add value, doesn't it feel a little empty? Works for some I guess, I prefer to build stuff vs. just talking about / reporting on them :)

(edited)

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Anonymous A replied on Feb 01, 2019

could you guys share what is considered an "exciting strategy project"?

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Vlad
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updated an answer on Feb 01, 2019
McKinsey / Accenture Alum / Got all BIG3 offers / Harvard Business School

Hi,

Agree with Guennael here, don't rely on buzzwords

Based on my experience in various organization strategic planning is definitely less exciting and refers more to numbers tracking rather than strategy.

Best

(edited)

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Guennael gave the best answer

Guennael

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