Summary of Four Best Practices for Strategic Planning

Boston Consulting Group,

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Four Best Practices for Strategic Planning summary
Even in turbulent times, you need to prepare for the long term.

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Strategy planning has become an unpopular exercise. Many would much rather go with the flow – which seems to fit these times when today’s innovations are tomorrow’s old hat. Strategy experts Nicolas Kachaner, Kermit King and Sam Stewart from The Boston Consulting Group agree that companies need to be flexible – but recommend having a solid strategy as a base. They describe four characteristics of strategic-planning processes that successful companies have in common. getAbstract recommends this report as a starting point for business leaders looking for ways to kick-start their strategic-planning processes.

In this summary, you will learn

  • How successful businesses approach strategic planning, 
  • How strategic plans should address different time frames
  • What businesses can do to ensure implementation of their strategic plans
 

Summary

Each year, almost 10% of public businesses fail. Some argue that, to survive, companies need to be more flexible and do away with strategic planning. However, while it’s true that a company must be agile, a solid strategic grounding is just as important. 

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About the Authors

Nicolas Kachaner, Kermit King and Sam Stewart are strategy experts at the international consulting company The Boston Consulting Group.


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