1. Research has demonstrated a "knowing-doing gap" that affects both organizations and individuals, i.e., we are always so busy doing stuff, so frenetically caught up in activity at work and in life, that we fail to learn the knowledge we need truly to be successful. The same is true with regard to the three stages of strategic management, viz., strategy formulation (knowing), strategy implementation (doing), and strategy evaluation (getting feedback and using it to improve); we put too much focus and importance upon implementing (doing) and fail to invest sufficient time, energy, and thought in coming up with a great strategy, which is undeniably the most important thing!

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2. Things change constantly, often more quickly that we can anticipate. Also, the best laid plans of mice and men often go awry as we seek to implement them. Therefore, good strategic management includes detailed plans, overseen at the mid-management and the executive level, to monitor and evaluate how well the strategy is being implemented and to address problems and make adjustments when things aren't going well.

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3. No matter how smart and great a strategy is, it will not succeed if the people of the organization do not get behind it and make it work. Therefore, it is imperative to enlist the support and involvement of key people in the implementation of the strategy. And actually, the best way to get people to share a commitment to the strategy and its success is to involve them in all phases of the strategic management process, i.e., formulation, implementation, and evaluation, in ways that also help them to learn, grow, and find meaning in their work.

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