Do you have plans or planners?

Planning is necessary for innovation and strategy because it enables thinking ahead and proactively addressing market, customer, and competitive challenges. While many companies conduct an annual planning cycle, such planning is often formulaic, simplistic, and narrowly focused. Instead of just creating high-quality plans, companies should focus on planning as an active verb, engaging in it regularly and adjusting plans as conditions change. The regular exercise of planning elevates it to an art and leads to real market opportunity and differentiation.