"I believe it's beneficial to have a formal strategic planning process, perhaps once every year or two, and then quarterly reviews, but you can't let it be simply about budgeting and making guesses about next year's growth rate. Planning needs to support thinking rather than drive it out."

Article citation: Joan Magretta, (2012) "Michael Porter answers managers' FAQs", Strategy & Leadership, Vol. 40 Iss: 2, pp.11 - 15