A survey of Chief Financial Officers identified six key areas that they determined were a key contributor to a failed planning process:
1. A poorly defined strategy.
2. No clear link between strategy and the operating budget.
3. Lack of individual accountability for results.
4. Lack of meaningful performance measures.
5. Inadequate pay for performance.
6. Lack of solid data and systems to make decisions.
In your opinion, which two points above do you feel are the main factors that create the gulf between planning and attaining performance objectives? Do you think that the growth in global competition will accelerate the process even further and why?