According to Wikipedia, “strategic planning is an organization’s process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy.” This process – or a key component of it – often entails long-range planning as a way of carving out your organization’s seat at the table of our shared futures.
With instantaneous communication, micro-trends that last just days or weeks (does anyone even remember S#!& Girls Say?!), and technologies that are obsolete mere months after release, do we need to adjust our time horizons to more accurately reflect our Fast Times (at Ridgemont High)?
Or put differently, can you really plan 5-10 years out any longer? If yes, how? If not, what should be the new benchmark in an era of prototyping and fast failure?