Where is Strategic Planning headed?
Richard T. Roth of The Hackett Group identified several key trends that will drive World-Class business performance in the future, including 1) “collaboration” will become the watchword to planning; 2) companies will continue to de-emphasize the traditional static budget in favor of driver-based rolling forecasts; 3) increased focus on more dynamic planning processes that allow organizations to anticipate and adapt when events happen rather than waiting for the roll of the calendar; and 4) technology advances will bring tantalizingly close the possibility for real-time decision support. In summary, what are the prerequisites to effective strategic planning: 1. Effective communication and decision support, 2. Extensive senior management involvement, 3. A comprehensive, rational planning process, and 4. A Widespread perceived need for strategic planning. References Anthony, R., Planning and Control Systems: A Framework for Analysis, Graduate School of Business, Harvard University, 1965.
