There's already enough mumbo-jumbo in the world about strategic planning, so I'll keep this short. If you're dealing with any of the following, consider your company in need.
1) Nobody says, "No." Every idea is met with, "That sounds great! Why don't you run with that?" When you have a plan and people internalize it, there is liberty with saying no (and empowerment) because the team knows what you are (and more importantly, are NOT pursuing).
2) Managers don't know how to make decisions. If they're capable of making decisions (that's a separate skill), but cannot, it's likely because they don't have clarity on vision, broad goals, and how they fit in. It's time for strategic planning (or revised communications on your existing one).
3) Everyone comes to the top person for decisions. (see #2)