Long-Term Strategic Planning

In a recent McKinseyGlobal Survey, Executives report an accelerating pace of change in an increasingly competitive business environment, driven by knowledge and information trends and the forces of globalization.

They found that the long-term strategic-planning process can be a powerful tool for identifying growth opportunities and external risks.

When asked how their strategic planning was organized, executives revealed significant differences between small and big companies.

• When executives are probed about what strategic planning achieves at their companies, an interesting divergence emerges.
• C-level executives are more confident than their lower-ranking counterparts that the process results in concrete measures.
• Top executives also emphasize the effectiveness of their company's strategic planning in identifying new opportunities for growth.