Research shows executives are likely to overestimate the financial benefits of strategy planning — as conducted by an overwhelming majority of large companies — by a factor of five. Executives at 88% of large companies engage in strategy planning, according to the research featured in a chapter of "Focus: How to Plan Strategy and Improve Execution to Achieve Growth," a book co-authored by Vikas Mittal, professor of marketing at the Rice's Jones Graduate School of Business, and Shrihari Sridhar, professor of marketing at Texas A&M University's Mays Business School. The objectives of the practice are setting goals, assigning resources, defining major initiatives, and creating and adjusting budgets, all with the hope of improving financial performance. Most of the time, it doesn’t work. Learn More