One of the ancient artefacts organisations hold dear is the 3 year strategic plan.
While there are reasons to do it, for example, forecasting scenarios or preparing for difficult situations, the reason to do it comes from a very basic psychological comfort. That is to bring about a sense of security that the organisation will live for 3 years, because there is a document that says so.
No one can predict the future precisely. No one can, it is impossible.
Certainly no one can predict 3 years, let alone a week. Organisations lose cash in periods of unexpected scenarios like terrorism, climate change, recessions and trade wars, which forces them to shut down their businesses.
3 year strategic plan has its’ fans because no one wants to show that they are short sighted. No one likes to tell that they are looking at the next 3 months instead of next 3 years. All the visionary statements look for the future and it is easier to speak in audacious targets and goals when you have too much time no one can keep track of.
Organisations who are doing well by having their eyes fixed on what’s happening in-front of them are the ones who expand organically and have the ability to adjust to changes in their environment. They may not speak audacious goals, but they might well survive and grow for many years. For them flamboyance is an accessory, much too expensive to waste.