No, in my team we've been doing 1y actual plans for the past twelve years, with time estimates and project breakdowns and who's going to do what and when.
What does work well mean? Compared to what, and is that a fair comparison?
Long term plans "work", but by sticking to them you might be giving up opportunities to do something more profitable. They can also "work" in the sense that the culture encourages abandoning them if something more profitable comes up, but then you've spent time planning for something that doesn't happen.
How often do you decide to abandon your long-term plan for something more profitable? And how often do you decide to pass up on something more profitable to stick to the plan?
Long term plans "work", but by sticking to them you might be giving up opportunities to do something more profitable. They can also "work" in the sense that the culture encourages abandoning them if something more profitable comes up, but then you've spent time planning for something that doesn't happen.
How often do you decide to abandon your long-term plan for something more profitable? And how often do you decide to pass up on something more profitable to stick to the plan?