What time of the year to review your company strategy?

At what time during the year do you review your company strategy, making sure you are working towards something useful, and set goal for the months ahead?

This question is being asked in the second half of December - at a time that I believe many companies start reviewing their strategy. We look ahead to the new year, review our strategy, and act upon it: typically a refinement of strategy and a realignment of our activities to match it, or more bluntly, make New Year's Resolutions.

I have doubts to whether the end of the year is a good time. Businesses wind down for a few days and this can make it easier to allocate the time required for a review, but it's also a hectic time for family and other activities. This can be both stressful and exhausting; not good ingredients for important thinking time.

Has anyone found success doing a high level review of strategy at other times of the year? or perhaps not just one big review but breaking it up in to a few reviews over a period of time?

End of the year seems like the natural time to do this sort of navel gazing - business or personal.

Personally I don't think the time of year is really as important as being able to get a few good distraction free days to think.

You can't see the bigger picture when fighting fires. if your personal situation and business cycle gives you time around xmas then why not, if not then another time would be better.

It really does depend on you and the type of business you have. Strategy sessions require creativity, energy and uninterrupted time. Find a quiet time in the year where your team is less busy and less distracted but energized and creative.

at a time that I believe many companies start reviewing their strategy.

I call that hogwash. You do NOT wat to start anything when people are going on holidays and have other things on their mind. You will find out that in the world out there many many people are not really with their company for a good part of December with their mind focusing on other things.

It also really depends on your business. Some business is season based, for example jewelery shops make most of their sales in December up until Christmas. That accounts for around 80% of the year turnover. So, for those it makes no sense to rethink things before the numbers are in.

So, sorry, the question can not be answered in general. I personally do so in January for part of my business (IT consulting) as all sales are mostly done at that point. And in summer for some other of my busness because this is where this business is really slow. So we take a timeout, holidays, then start replanning for the next business year.