When you’re trying to transform quickly, you can’t do it with long-term, multi-year planning. You need to do it in sprints.
The five-year business plan is rapidly becoming a dinosaur. Instead, companies of all sizes are prioritizing agility and rapid course correction in strategic planning. For this reason, many are beginning to use agile strategic planning—the gold standard for rapid software development—in their strategic planning processes.
“Strategic planning used to happen annually with months of ramp-up,” says Russ Finney, lecturer at the McCombs School of Business and an advisory partner with itmWEB Group, a strategic planning consultancy. “But if you’re growing fast and adapting to new competitors and customer expectations, you’re doing it every month. You’re constantly reevaluating, rethinking, and executing.”
In a recent conversation with Workflow, Finney explained how (and why) some companies are ready to adopt a new agile approach.
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