10 Questions
What is strategic planning?
The ongoing process of documenting a business's intended direction
What is the primary purpose of strategic planning?
To ensure goals are backed by data and sound reasoning
How much time do 48 percent of leaders spend discussing strategy each month?
Less than one day
What does the text emphasize about strategic planning?
It is an ongoing process
What percentage of organizations fail to meet at least half of their strategic targets?
48%
What are some benefits of strategic planning for an organization?
Strategic planning helps prioritize efforts, allocate resources effectively, align shareholders and employees on the organization’s goals, and ensure those goals are backed by data and sound reasoning.
What percentage of leaders spend less than one day per month discussing strategy, according to research from Bridges Business Consultancy?
48 percent of leaders spend less than one day per month discussing strategy.
How does the text describe strategic planning?
The text describes strategic planning as the ongoing organizational process of using available knowledge to document a business's intended direction.
Why is it important to highlight that strategic planning is an ongoing process?
It's important to highlight that strategic planning is an ongoing process to emphasize that it is not a one-time meeting.
According to the text, what must take place before an organization can reap the rewards of its business strategy?
Planning must take place to ensure its strategy remains agile and executable.
Assess your understanding of strategic planning with this quiz from HBS Online. Test your knowledge and learn why strategic planning is crucial for organizational success.
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