Strategic planning takes a holistic look at a company's aspirations, testing and refining corporate objectives. The plan includes mapping a self-correcting process to achieve new levels of performance. It helps companies decide where to focus, where to compete and how to allocate resources. Strategic planning serves as a starting point for such related work as growth, portfolio strategy and M&A strategy.

Surprisingly, companies often fail to take a long-term view in strategic planning, mistakenly believing it does not necessarily lead to higher returns. We help clients incorporate a long-term perspective into their strategies, while focusing on the biggest issues they currently face and on the best way to get results.

Throughout the process, Bain reviews and challenges clients' strategy assumptions. We work to identify the largest opportunities to build value within the company and develop an understanding of how its current performance compares with its full corporate potential. We help clients identify capability gaps and marketplace opportunities and set up tactical goals and tracking systems that ensure results.

To find out more about Bain's work in this capability area, please contact the practice.