What ever happened to Five Year Plans? Long Term Planning?

It's probably the reason why our economy is in the state it is currently in.
It's most likely why many companies fail to grow and just keep things the same.
It's the reason why your team is always questioning your decisions.
It's the reason why there is massive churn at the top of many companies.

What ever happened to Five Year Plans? They became dirty words over the past 10 years. Anyone who ascribed to a 3-5 year plan was not a forward thinker, someone who was not 'up with the times', or a 'Web 2.0' executive (by the way, Web 2.0 as a descriptive term has been dead for a long time).

What the business glitterati forgot is that long term planning is focused on a GOAL - and the route to that goal might change - and even the goal might change. Unfortunately, the latest fad 'state' of executive management is to come on board and throw out everything that was done before and start anew. Then your successor comes on board (after you have received a very handsome golden parachute) and throws out your plan and begins anew. And so it goes.

I charge that this cleansing of capitalism must wash away the flippant ways of past executives. We need the captains of industry to lead with bold visions and stay the course - and never waver. I hope I am right.

What long term plans do you have?