A thoughtful article by Kamal Hassan in Blogging Innovation says a lot with which I agree. Annual strategic planning and setting of objectives is, in my view, a waste of time because things are changing so fast. He writes, “A recent IBM survey of more than 1,500 CEOs from around the world revealed that more than half are struggling with the quickening pace of globalization, technology, the economy, customer expectations – everything is more complex these days. And 79 percent of the executives surveyed expect things to get even more complicated over the next five years.”
Long term success in business is now about innovation and invention. To quote Henry Luce, co-founder of Time Magazine, “Business, more than any other occupation, is a continual dealing with the future; it is a continual calculation, an instinctive exercise in foresight.” What is interesting is that new methods have been developed in providing companies foresight, at least for a few years. But most strategic planning is an extension of the past. This article points to an alternative way of thinking. (GW)
Time to Retire Strategic Planning and Adopt Innovation Strategy | Blogging Innovation | Kamal Hassan | 28 June 2010
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With so many unknown variables, I think scenario planning is a much better alternative to strategic planning.
Harold Jarche´s last blog ..DIY is here