At the end of every quarter, in NetCore, we do a formal review (sort-of Board meeting) with two external people. This helps us in multiple ways: it instills a “numbers” discipline down the line, it makes all of us accountable to numbers that we commit, it forces us to review ourselves every three months with people other than ourselves, and it also gets us inputs which sometimes we have failed to see (perhaps being too close to the issue or problem).
We have been doing this for about three years in NetCore. These quarterly reviews where we and each of the business heads presents to the Board are something that have been a useful and essential part of the process of ensuring that even as think long-term, we recognise the importance of keeping on delivering in the short-term also.
This is something which every company should do. Listed companies of course are obligated to do so. Even private companies should instill in themselves this discipline of quarterly targets and reviews.