Talking about formulating strategy and implementing strategy in organizations, Jamie Dimon, the CEO of JPMorgan Chase, has said, "I'd rather have a first-rate execution and a second-rate strategy anytime [rather] than a brilliant idea and mediocre management." Similarly in his book Execution: The Discipline of Getting Things Done, Larry Bossidy of AlliedSignal stated that, "Strategies most often fail because they aren't well executed." Do you think that these two CEO's make a valid point? Discuss the distinction they make between strategic formulation (planning) and the implementation of a strategic plan in an organization.