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Apart from a company's ability to execute its strategy, it cannot be certain that the assumptions and hypotheses underlying the strategy are valid. A principal benefit of implementing a strategy with a Balanced Scorecard is that a company can use the scorecard data to periodically assess whether its strategic hypotheses are holding up. Strategy testing and adapting meetings are designed for the executive team to learn about the validity of the strategy-not only its execution-and to modify and adapt the strategy over time. This chapter is excerpted from ‘The Execution Premium: Linking Strategy to Operations for Competitive Advantage'.