Strategic Planning & KPI Development Survey
The last few years have been challenging in the GCC region on account of volatile oil prices, geopolitical tensions and internal conflicts. Macroeconomic imbalances and growing concerns on economic revival have prompted governments to curtail investments, control expenditures and focus on revenue enhancement by introducing various forms of taxes. Being highly dependent on government expenditure, investment and consumption levels in the GCC countries have been declining thereby weakening business confidence and credit growth to the private sector.
Majority of companies in the private sector are witnessing constrained opportunities for growth and are facing difficulty in retaining their existing business/ position. This situation has meant that organizations need to realign their strategy to address the changes in the business environment. Furthermore, the senior leadership has realized the importance of setting a framework to access relevant and reliable information using Key Performance Indicators (KPIs) to introspect business performance and identify focus areas of realignment/ optimization.
Given the above, we conducted a survey to assess maturity level of strategic planning process across various organizations in the GCC region. The survey focused on various critical aspects of the strategic planning process viz.,
Who are the participants in the strategic planning process?
How frequently is the strategic planning process undertaken?
Is strategic direction cascaded into KPIs for organization, department and employee level?
Various performance indicators KPIs look at and to what extent are these monitored?
Is KPI measurement process efficient by looking at time it takes to measure and report KPIs, sources and mode of data collection, etc.?
What challenges are being faced by organization during the strategic planning and KPI development process?
We observed from the survey that there are clear patterns on many aspects. The same are being presented in this report in a crisp and summarized way for quick reading and inferences.
Please download the Strategic Planning & KPI Development Survey Findings: