Four Best Practices for Strategic Planning

©BCG

Strategic planning is one of the least-loved organizational processes. But with nearly one-tenth of public companies disappearing each year, it’s clear that companies need to devote time to strategy. The problem is that many companies lack an effective strategic-planning process.

Four Best Practices

The companies that get the most benefit from their strategic-planning activities have four things in common. They explore strategy at distinct time horizons, constantly reinvent and stimulate the strategic dialogue, engage the broader organization, and invest in execution and monitoring.

Putting It All Together

Defining the plan is only half the challenge. The other half—translating the strategy into results—can be even harder. Successful execution requires active communication, well-resourced supporting initiatives, success metrics, and aligned incentives.

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BCG-Four-Best-Practices-Strategic-Planning-Apr-2016_tcm80-207299.pdf

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