The January time frame for many companies signals strategy-planning time. Or the strategy work on budgets that was sewed up in December can now be “put into action”. Either way, the strategy event is over and they are chuffed because they are ready and don’t have to schedule the event again till next year.
Over the last 6 weeks, I have had the opportunity to interact with over 60 CEO and Presidents in locations including London, New York and Hong Kong. The company revenue size ranged from 10MM to over 400MM USD – and they were from almost every type of industry and included B2B, B2C and product and services type firms. In short – quite a range. One of my business surprises came from the response I got when I asked them this:
How do you create your strategy and do you actually use it through the year? At least 70% said they hold some kind of EVENT to mark that strategy thinking did occur and we could now get on to business!
“Strategy should be a process not an singular event or annual occurrence.”