What are common challenges in applying strategic planning and how can they be overcome?

Strategic planning aligns with digital transformation initiatives by providing a roadmap for the transition. It involves setting clear goals and focusing on them, which is crucial for any digital transformation initiative. The strategic planning process helps in identifying the digital tools and technologies that can help achieve these goals. It also helps in understanding the potential challenges and how to overcome them. Thus, strategic planning plays a vital role in the successful implementation of digital transformation initiatives.

Goal setting is a fundamental part of business strategy as it provides a clear direction and roadmap for the business. It helps in defining what the business wants to achieve and how it plans to do so. Goals serve as a guide for decision making and resource allocation. They also help in measuring progress and performance. Without goals, a business may lack focus and direction, making it difficult to achieve success. As Denis Waitley said, the secret to productive goal setting is in establishing clearly defined goals, writing them down and then focusing on them several times a day as if we've already achieved them.