Some key findings:
- More than half of all respondents say that at their company the important strategic decisions are made by a small group of senior managers, including the CEO.
- No matter who leads the decision making, executives at companies that make good use of a formal process seem to be more satisfied with strategic planning.
- Most respondents say that their company's board of directors focuses on a few roles in planning strategy. Boards are seen to be most active in challenging strategy during the development process and in approving the final strategy .
More important than strategy, however is execution.
- A significant number of respondents express concern about executing strategy. Some 28 percent say that their company produces a strategic plan that reflects the company's goals and challenges but is not effective.
- Another 14 percent say the strategy and plans for executing it are not necessarily aligned with each other.
- 67 percent say aligning management with the strategy is an element of the strategic-planning process.
- Monitoring progress is an area where many executives see room for improvement. Only 56 percent of respondents say that their company currently tracks the execution of its strategic initiatives.