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A corporate vision tells everyone in your organisation where they are going while a strategy tells them how they are going to get there. A good business growth strategy lays out a unique path that gives customers real value that is different from what their competitors offer. This makes a company more valuable.

But sometimes we forget about the part, which is execution. Execution clears the way and sets up the structures, processes, and capabilities that make strategy work. For strategies to be effective, strategic initiatives need to be well-planned. Strategic planning and strategy development are mostly a waste of time if there is no plan to put these plans into action.

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