The founding strategy may not start with the people, but its implementation and all subsequent strategy evolutions are hugely influenced by the people. They are the ones, after all, who design the business systems, develop their skills, train each other, shape shared values daily, and project the culture's style to thousands of customers every day. They watch competitors on the street, and they listen to prospects who've declined proposals. In all but the smallest organizations, the CEO's ability to drive the details of strategy execution in all these areas around the company is practically nil.
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