Home > General > More long term planning needed in Irish Businesses - PwC

More long term planning needed in Irish Businesses - PwC

Written by Sim Pinder, on 14th Sep 2016. Posted in General

article headline

Research published today, by PwC, indicate that79 per cent of Irish companies consider a time horizon of 5 years or less when discussing strategy.   

In addition to the lack of long term plan the majority, 80 percent, of senior executives felt that their business strategy was not well understood – even within their own company. 

Only 8 percent of the top leaders of their enterprises were said to excel at both strategy and execution.

David McGee, Strategy Partner, PwC Ireland commented: "While the majority of respondents confirmed that they review their strategy over a short-term time-frame, it is also important to focus on the longer-term goals and plans for the organisation.  When a decision is taken to invest in new markets or products it often takes many years to implement including planning the resources, testing the market, business structuring etc. “

The research was published in support of PwC’s new book 'Strategy That Works: A Look at Why Certain Companies Succeed and Why Others May Not.’   

The book, written by Paul Leinwand, Principal at PwC’s Strategy& and Cesare Mainardi, retired CEO of Strategy&, aims to look at “why are certain companies so successful?” 

Launching the book in Ireland, David McGee, commented:  “In Ireland and around the world, we are seeing companies wrestle with how to develop strategies that keep them competitive in an increasingly complex global marketplace.  All too often companies don’t think about strategy and execution together – Strategy That Works is an excellent guide to what  companies need to do to bridge the gap and deliver sustained success.” 


Source: www.businessworld.ie

More articles from General

image Description

Choosing the Right Time and Attendance System for Your Business in Ireland

Read more
image Description

The Benefits of Choosing a Payroll Bureau in Ireland with Online Payroll Software

Read more
image Description

Tips for Building a Successful Travel Business in Ireland

Read more
image Description

How to Improve Your Business Writing: Simple Tips That Work

Read more
image Description

Leveraging Digital Platform Integration is the Key to Driving Competition Among Businesses

Read more