Two consultants at the elite New York-based Marakon Associates - Michael Mankins and Richard Steele - have concluded that strategic planning in the sense of a formal once-a-year program has been a disappointment. Managers make strategic decisions throughout the year, issue by issue. An annual plan is "a barrier to to good decision making," they argue. The Marakon consultants recommend that strategic planning be conducted throughout the year, issue by issue and that decisions be made on that basis. Their study was published in the January 2006 issue of the Harvard Business Review. It was originally announced in a July 2005 press release.