Why most strategic plans fail just as often as New Year’s resolutions

Companies spend millions of dollars creating strategic plans, and yet most of these plans fail. Here’s how to create one that works.

Strategic planning is a big business. Companies spend millions of dollars working with consulting firms to chart a path forward. Not only does a lot of money change hands as part of this process, but the amount of time that employees invest in working on the plan likely doubles the cost of the entire process.