!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Strict//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-strict.dtd"> Streamline Training & Documentation: Strategic Planning Losing Favor

Sunday, January 24, 2010

Strategic Planning Losing Favor

As a follow-on to yesterday's post concerning coping with uncertainty, I'd call attention to an article in today's Wall Street Journal reporting on companies' declining confidence in the value of strategic planning.

According to reporters Joann Lublin and Dana Mattioli, instead of trying to look ahead and plan for a "likely" future, companies are striving for "increased flexibiliy and accelerated decision making" — decision making that has a pronounced element of opportunism.

It has become evident to the companies in question that they need to respond more quickly to changes in customer demand, so they have begun updating operating budgets more frequently — often monthly rather than quarterly. And they have been thinking in terms of scenarios and spinning out ideas for how they can position themselves to respond adaptively to changes in the business environment.