Tired of strategic planning?

Tired of strategic planning?

Some ways to transform annual strategic reviews into important discussions that actually enlighten and prepare participants to confront the future.

Author(s): Eric Beinhocker, Sarah Kaplan

Publisher: McKinsey Quarterly

Date of publication: 2002

See this article on the publisher’s site [McKinsey&Company]

Summary

This article was written based on the observation that the annual strategic reviews performed at most large corporations don't amount to much. Indeed, superficial discussions, doublespeak, careful avoidance of controversial topics, etc. turn these meetings into a relatively unproductive exercise. The authors suggest ways to transform these pointless gatherings, where a lot of senior management time and energy is wasted, into important discussions that actually enlighten and prepare participants to confront the future. These suggestions include limiting the number of participants, focusing on the creative exploration of development opportunities and strategic testing, as well as disconnecting strategic thinking from short-term financial considerations.