Eddielogic

– Thoughts on Strategy and Management

How to improve strategic planning

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For all who are interested in issues of strategic planning I would like to recommend a new article from TheMcKinseyQuarterly. It is now available online without being a premium member of their web services.

Core statements are

  • Only 45 percent of survey respondents said that they were satisfied with their existing process for strategic planning
  • Only 23 percent of survey respondents agree that important strategic decisions were made within these planning processes

To improve the process Renèe Dye and Olivier Sibony highlights the following ideas:

  • the organisation should identify the long term issues facing the company instead of just examining numbers
  • bring together the ultimate decision makers within the strategic review meetings for strategic conversations
  • adapt planning cycles to the needs of each business
  • implement a strategic-performance management system

The article can be found on this website (pdf-file)

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