In short, the problem isn’t strategic planning. It’s that most companies lack an effective strategic-planning process.
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Strategy
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Four best practices for strategic planning
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Firms stuck in a bureaucratic rut when it comes to strategic planning—or tempted to accept the argument that planning is a relic and agility is what matters—will appreciate this common-sense approach. BCG argues that organisations do need a structured, organised thought process, and provides advice on exploring strategy at distinct time horizons, constantly reinventing and stimulating dialogue, engaging the broad organisation, and investing in execution and monitoring.