State of Strategy Management Practices 2024 Strategy Planning Question Title * 1. How would you describe the process of strategic planning in your organization? It is an informal process; planning happens naturally somehow. It is a formal and regular process, but there is no specific methodology. It is a formal and regular process based on a rigorous methodology and using specific techniques and tools. Question Title * 2. How often is strategy reviewed in your organization? Quarterly Biannually Annually Every 3 years Other (please specify) Question Title * 3. Which of the following factors triggers strategy changes in your company most frequently? Global economic and political outlook Local economic instability in the markets in which we operate Technology advancements relevant to our industry Mergers and acquisitions New opportunities to pursue Actions of our competitors Clients' expectations, changes in their behavior Poor performance results Internal constraints (e.g. availability of staff, expertise, budgetary aspects, management changes) Business model innovation Other (please specify) Question Title * 4. On a scale of 1 to 5, please assess the extent to which the current strategic planning practices and tools are fully serving the needs of business leaders. 1 - To a very low extent 2 3 4 5 - To a very high extent 1 - To a very low extent 2 3 4 5 - To a very high extent Question Title * 5. Rank the following elements based on the importance given by your organization during the strategic planning process (1 - highest importance, 8 - lowest importance). Question Title * 6. In your organization, which of the following do you consider to be the most challenging aspect of the strategic planning process? Creating a regular, formal, and methodical strategic planning process Getting insights from external stakeholders Getting buy-in from the executive team Conducting the market research/external environment analysis Conducting the internal capabilities analysis Reviewing/creating the organizational identity (mission, vision, values) Formulating clear objectives Choosing the right KPIs Setting appropriate targets Linking projects to strategic objectives Prioritizing initiatives Conducting/facilitating the strategy planning workshop Other (please specify) Question Title * 7. Did your organization leverage any AI technology as part of its strategy planning process? Yes No 12% of survey complete. Next